Michael C. Morgan Sells 230,000 Shares of Kinder Morgan, Inc. (NYSE:KMI) Stock

Kinder Morgan, Inc. (NYSE:KMI) Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kinder Morgan Price Performance

KMI traded up $0.05 during trading on Wednesday, hitting $18.81. 12,485,494 shares of the stock traded hands, compared to its average volume of 14,267,062. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $18.92. The company has a market cap of $41.75 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 5.32 and a beta of 0.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The business has a 50 day moving average price of $17.91 and a 200 day moving average price of $17.45.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.11%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gotham Asset Management LLC lifted its stake in shares of Kinder Morgan by 11.3% in the 3rd quarter. Gotham Asset Management LLC now owns 533,348 shares of the pipeline company’s stock valued at $8,843,000 after acquiring an additional 54,184 shares during the last quarter. Virginia Wealth Management Group Inc. lifted its stake in shares of Kinder Morgan by 1.6% in the 3rd quarter. Virginia Wealth Management Group Inc. now owns 201,278 shares of the pipeline company’s stock valued at $3,337,000 after acquiring an additional 3,085 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Kinder Morgan by 69.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 3,955,216 shares of the pipeline company’s stock valued at $65,577,000 after acquiring an additional 1,617,250 shares during the last quarter. Teza Capital Management LLC lifted its stake in shares of Kinder Morgan by 190.9% in the 3rd quarter. Teza Capital Management LLC now owns 527,280 shares of the pipeline company’s stock valued at $8,742,000 after acquiring an additional 346,000 shares during the last quarter. Finally, Rheos Capital Works Inc. lifted its stake in shares of Kinder Morgan by 285.7% in the 4th quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock valued at $19,051,000 after acquiring an additional 800,000 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KMI has been the subject of a number of analyst reports. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reiterated a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.20.

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.