Foster & Motley Inc. Lowers Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Foster & Motley Inc. reduced its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,315 shares of the pipeline company’s stock after selling 9,970 shares during the period. Foster & Motley Inc.’s holdings in Kinder Morgan were worth $1,655,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 15.8% in the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after acquiring an additional 27,254,172 shares in the last quarter. Norges Bank acquired a new stake in Kinder Morgan in the 4th quarter valued at about $409,063,000. Dimensional Fund Advisors LP boosted its stake in shares of Kinder Morgan by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,387,752 shares of the pipeline company’s stock valued at $289,087,000 after buying an additional 2,309,550 shares during the period. Clearbridge Investments LLC grew its position in shares of Kinder Morgan by 23.6% during the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after buying an additional 2,125,648 shares in the last quarter. Finally, Energy Income Partners LLC increased its stake in shares of Kinder Morgan by 2.6% during the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock worth $196,558,000 after buying an additional 272,648 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KMI shares. Royal Bank of Canada boosted their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 30th. Barclays raised their price target on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Truist Financial upped their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their target price on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling at Kinder Morgan

In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sital K. Mody sold 21,413 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Up 0.3 %

Shares of NYSE:KMI opened at $21.48 on Friday. The firm has a fifty day moving average price of $20.87 and a 200 day moving average price of $19.41. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $21.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The stock has a market cap of $47.66 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.00 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is presently 104.55%.

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.