Truist Financial Corp Sells 52,723 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Truist Financial Corp decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,766,481 shares of the pipeline company’s stock after selling 52,723 shares during the quarter. Truist Financial Corp’s holdings in Kinder Morgan were worth $48,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KMI. Retirement Wealth Solutions LLC bought a new stake in shares of Kinder Morgan in the 4th quarter worth approximately $25,000. Modus Advisors LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan in the 3rd quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at about $29,000. Finally, Planning Capital Management Corp grew its stake in shares of Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after buying an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $26.61 on Tuesday. Kinder Morgan, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $31.48. The stock has a market cap of $59.11 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 3.16 and a beta of 0.94. The stock’s 50 day simple moving average is $27.80 and its two-hundred day simple moving average is $25.15. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.49.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, analysts expect that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.32%. The ex-dividend date is Monday, February 3rd. Kinder Morgan’s payout ratio is currently 98.29%.

Wall Street Analysts Forecast Growth

KMI has been the subject of several analyst reports. Mizuho increased their target price on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Barclays increased their price objective on Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. UBS Group increased their price target on shares of Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Truist Financial raised their price target on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Insiders Place Their Bets

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the business’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 sale, the president now directly owns 861,652 shares of the company’s stock, valued at approximately $24,048,707.32. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 54,000 shares of company stock worth $1,493,100. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Company 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.