Spinnaker Trust Has $2.50 Million Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Spinnaker Trust increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,736 shares of the pipeline company’s stock after buying an additional 2,589 shares during the quarter. Spinnaker Trust’s holdings in Kinder Morgan were worth $2,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KMI. Tucker Asset Management LLC bought a new position in shares of Kinder Morgan in the 3rd quarter worth $25,000. Hartford Financial Management Inc. acquired a new position in Kinder Morgan during the third quarter worth $26,000. Activest Wealth Management acquired a new position in shares of Kinder Morgan during the fourth quarter valued at about $30,000. Rakuten Securities Inc. bought a new stake in shares of Kinder Morgan during the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Kinder Morgan in the 3rd quarter worth about $33,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.20.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock traded down $0.12 during trading hours on Friday, hitting $18.68. 9,412,314 shares of the company’s stock traded hands, compared to its average volume of 14,246,453. The company has a fifty day simple moving average of $17.98 and a 200-day simple moving average of $17.47. 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 stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 5.31 and a beta of 0.90. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $18.92.

Kinder Morgan (NYSE:KMI) last posted 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. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. Kinder Morgan’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.2875 dividend. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 6.16%. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Insider Transactions at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the business’s 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 transaction, the director now owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan 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.