Norwood Financial Corp Takes $36,000 Position in Kinder Morgan, Inc. (NYSE:KMI)

Norwood Financial Corp acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) during the first quarter, HoldingsChannel reports. The fund acquired 1,950 shares of the pipeline company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tucker Asset Management LLC purchased a new position in Kinder Morgan in the 3rd quarter valued at $25,000. True Wealth Design LLC grew its position in 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 during the last quarter. Altshuler Shaham Ltd purchased a new position in Kinder Morgan in the 4th quarter valued at $26,000. Activest Wealth Management purchased a new position in Kinder Morgan in the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. purchased a new position in Kinder Morgan in the 4th quarter valued at $33,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

Shares of NYSE:KMI traded up $0.11 during midday trading on Friday, hitting $19.87. 42,271,560 shares of the stock were exchanged, compared to its average volume of 13,750,955. The stock has a market cap of $44.10 billion, a P/E ratio of 18.06, a PEG ratio of 3.12 and a beta of 0.92. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $20.19. The company has a 50 day moving average price of $19.32 and a 200-day moving average price of $18.22.

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

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a $0.2875 dividend. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.15 annualized dividend and a yield of 5.79%. Kinder Morgan’s payout ratio is presently 104.55%.

Insider Activity at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value 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 approximately $6,494,537.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of recent analyst reports. Truist Financial reissued a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group raised their target price on Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.