Maryland State Retirement & Pension System Has $46.52 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

Maryland State Retirement & Pension System reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,697,845 shares of the pipeline company’s stock after selling 43,262 shares during the quarter. Kinder Morgan comprises about 1.0% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 17th biggest position. Maryland State Retirement & Pension System’s holdings in Kinder Morgan were worth $46,521,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KMI. Raymond James Financial Inc. acquired a new stake in Kinder Morgan in the 4th quarter valued at approximately $157,804,000. Amundi boosted its position in shares of Kinder Morgan by 28.9% in the fourth quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock valued at $334,381,000 after acquiring an additional 2,650,040 shares during the period. Barclays PLC grew its stake in shares of Kinder Morgan by 39.9% in the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after acquiring an additional 2,334,273 shares during the last quarter. Fisher Funds Management LTD acquired a new position in Kinder Morgan during the 4th quarter valued at $62,534,000. Finally, National Bank of Canada FI raised its stake in Kinder Morgan by 295.5% during the 3rd quarter. National Bank of Canada FI now owns 2,937,055 shares of the pipeline company’s stock valued at $64,879,000 after purchasing an additional 2,194,489 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research note on Monday, March 3rd. Scotiabank assumed coverage on Kinder Morgan in a research report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price objective for the company. Wells Fargo & Company boosted their price objective on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Truist Financial raised their target price on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.64.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 75,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the completion of the transaction, the vice president now owns 220,681 shares in the company, valued at $5,881,148.65. The trade was a 25.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $27.91, for a total value of $502,380.00. Following the transaction, the president now directly owns 861,652 shares in the company, valued at approximately $24,048,707.32. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,461 shares of company stock worth $3,490,996 in the last 90 days. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $27.51 on Wednesday. The stock has a market capitalization of $61.13 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 3.08 and a beta of 0.94. The firm’s 50-day moving average price is $27.59 and its two-hundred day moving average price is $26.02. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 1-year low of $17.61 and a 1-year high of $31.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. On average, equities analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.2875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.18%. Kinder Morgan’s dividend payout ratio is 98.29%.

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.