Barometer Capital Management Inc. Takes $5.93 Million Position in Kinder Morgan, Inc. (NYSE:KMI)

Barometer Capital Management Inc. purchased a new position in Kinder Morgan, Inc. (NYSE:KMIFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 341,650 shares of the pipeline company’s stock, valued at approximately $5,929,000. Kinder Morgan accounts for 1.8% of Barometer Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Kinder Morgan in the 4th quarter valued at approximately $409,063,000. Invesco Ltd. raised its position in shares of Kinder Morgan by 29.4% in the 3rd quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after purchasing an additional 4,870,444 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Kinder Morgan by 2,463.8% in the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock valued at $73,678,000 after purchasing an additional 4,270,461 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Kinder Morgan by 1,121.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company’s stock valued at $65,750,000 after purchasing an additional 3,640,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Kinder Morgan by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,387,752 shares of the pipeline company’s stock valued at $289,087,000 after purchasing an additional 2,309,550 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Get Our Latest Stock Analysis on KMI

Insider Buying and Selling

In related news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the transaction, the director now owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. 12.64% of the stock is owned by corporate insiders.

Kinder Morgan Stock Up 0.1 %

Shares of NYSE KMI traded up $0.02 during mid-day trading on Tuesday, reaching $19.82. 5,895,558 shares of the company traded hands, compared to its average volume of 13,626,421. The stock has a market cap of $43.99 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.10 and a beta of 0.92. The company’s fifty day moving average is $18.89 and its two-hundred day moving average is $18.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $19.93.

Kinder Morgan (NYSE:KMIGet Free Report) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm earned $0.30 EPS. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

About Kinder Morgan

(Free Report)

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.

Further Reading

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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