New England Asset Management Inc. Sells 23,100 Shares of Kinder Morgan, Inc. (NYSE:KMI)

New England Asset Management Inc. lowered its position in Kinder Morgan, Inc. (NYSE:KMI) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,045 shares of the pipeline company’s stock after selling 23,100 shares during the period. New England Asset Management Inc.’s holdings in Kinder Morgan were worth $2,788,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KMI. Tucker Asset Management LLC bought a new stake in shares of Kinder Morgan in the 3rd quarter valued at $25,000. True Wealth Design LLC increased its position in shares of Kinder Morgan by 3,655.3% in the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after buying an additional 1,389 shares in the last quarter. Altshuler Shaham Ltd bought a new position in Kinder Morgan during the 4th quarter worth about $26,000. Activest Wealth Management bought a new position in Kinder Morgan during the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. bought a new position in Kinder Morgan during the 4th quarter worth about $33,000. Institutional investors own 62.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KMI shares. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group increased their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Truist Financial restated a “hold” rating and set a $20.00 price objective (down 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, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Kinder Morgan Stock Performance

NYSE:KMI traded up $0.09 during mid-day trading on Wednesday, hitting $19.88. The stock had a trading volume of 10,082,069 shares, compared to its average volume of 13,624,562. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $20.07. The stock has a market cap of $44.12 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.13 and a beta of 0.92. The company’s 50 day simple moving average is $18.92 and its 200 day simple moving average is $18.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50.

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

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a $0.2875 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 5.78%. The ex-dividend date was Monday, April 29th. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Buying and Selling at Kinder Morgan

In other news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the transaction, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The disclosure for this sale can be found here. Insiders own 12.81% of the company’s stock.

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.