ING Groep NV Has $5.26 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

ING Groep NV cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 67.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 237,955 shares of the pipeline company’s stock after selling 494,414 shares during the quarter. ING Groep NV’s holdings in Kinder Morgan were worth $5,256,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KMI. Northwest Investment Counselors LLC bought a new stake in Kinder Morgan in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of Kinder Morgan in the 1st quarter valued at $30,000. HWG Holdings LP acquired a new stake in shares of Kinder Morgan during the second quarter worth $30,000. Planning Capital Management Corp raised its stake in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after buying an additional 797 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Kinder Morgan in the second quarter valued at $31,000. Institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling at Kinder Morgan

In other news, Director Amy W. Chronis acquired 2,241 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $24.89 per share, with a total value of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

KMI opened at $27.27 on Friday. Kinder Morgan, Inc. has a 1 year low of $16.47 and a 1 year high of $27.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company has a market capitalization of $60.58 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 3.69 and a beta of 0.91. The firm’s fifty day moving average price is $23.72 and its two-hundred day moving average price is $21.40.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s dividend payout ratio is 100.88%.

Wall Street Analyst Weigh In

KMI has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley set a $26.00 target price on Kinder Morgan in a report on Friday, October 18th. Bank of America initiated coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Truist Financial raised their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.36.

About Kinder Morgan

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.