Centre Asset Management LLC Has $11.02 Million Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Centre Asset Management LLC trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 34.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,128 shares of the pipeline company’s stock after selling 214,658 shares during the period. Kinder Morgan makes up about 2.5% of Centre Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Centre Asset Management LLC’s holdings in Kinder Morgan were worth $11,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Modus Advisors LLC bought a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Kinder Morgan during the 3rd quarter valued at $28,000. HWG Holdings LP acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $30,000. Planning Capital Management Corp boosted its position in shares of Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 797 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Kinder Morgan during the second quarter worth $31,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Up 1.1 %

Shares of NYSE KMI traded up $0.31 during mid-day trading on Friday, reaching $28.42. 1,508,026 shares of the company’s stock traded hands, compared to its average volume of 7,589,126. 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 business has a 50-day simple moving average of $26.89 and a 200 day simple moving average of $23.39. The stock has a market cap of $63.14 billion, a P/E ratio of 24.93, a PEG ratio of 3.87 and a beta of 0.94. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81.

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

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Morgan Stanley set a $26.00 price objective on shares of Kinder Morgan in a report on Friday, October 18th. Barclays increased their target price on shares of Kinder Morgan from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Bank of America started coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Truist Financial lifted their target price on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $26.25.

Insider Buying and Selling

In related news, Director Amy W. Chronis bought 2,241 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the purchase, the director now directly owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $27.91, for a total transaction of $502,380.00. Following the sale, the president now owns 861,652 shares of the company’s stock, valued at approximately $24,048,707.32. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 745,263 shares of company stock worth $18,578,014. 12.64% of the stock is owned by company insiders.

Kinder Morgan Company Profile

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.