TIAA Trust National Association Sells 3,633 Shares of Kinder Morgan, Inc. (NYSE:KMI)

TIAA Trust National Association reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 29.9% in the fourth quarter, HoldingsChannel reports. The firm owned 8,507 shares of the pipeline company’s stock after selling 3,633 shares during the quarter. TIAA Trust National Association’s holdings in Kinder Morgan were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Houlihan Financial Resource Group Ltd. increased its holdings in Kinder Morgan by 1.8% during the fourth quarter. Houlihan Financial Resource Group Ltd. now owns 57,819 shares of the pipeline company’s stock valued at $1,584,000 after buying an additional 1,004 shares during the last quarter. FineMark National Bank & Trust increased its stake in shares of Kinder Morgan by 0.9% in the 4th quarter. FineMark National Bank & Trust now owns 54,662 shares of the pipeline company’s stock worth $1,498,000 after purchasing an additional 511 shares in the last quarter. Modern Wealth Management LLC raised its holdings in Kinder Morgan by 934.2% in the 4th quarter. Modern Wealth Management LLC now owns 378,089 shares of the pipeline company’s stock worth $10,235,000 after purchasing an additional 341,531 shares during the period. CoreFirst Bank & Trust purchased a new position in Kinder Morgan during the fourth quarter valued at $47,000. Finally, Corebridge Financial Inc. grew its holdings in Kinder Morgan by 2.8% during the fourth quarter. Corebridge Financial Inc. now owns 493,095 shares of the pipeline company’s stock valued at $13,511,000 after purchasing an additional 13,606 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMI. Citigroup lifted their price objective on Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Scotiabank assumed coverage on shares of Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price target on the stock. Barclays upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Monday, March 3rd. Morgan Stanley upped their target price on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Finally, Royal Bank of Canada raised their price target on Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $29.64.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 75,461 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $27.70, for a total transaction of $498,600.00. Following the completion of the sale, the president now directly owns 843,652 shares in the company, valued at $23,369,160.40. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock valued at $3,490,996 over the last ninety days. 12.64% of the stock is owned by insiders.

Kinder Morgan Stock Up 0.6 %

Shares of KMI opened at $28.39 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The stock has a market capitalization of $63.07 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a 1 year low of $17.61 and a 1 year high of $31.48. The business’s 50 day simple moving average is $27.48 and its 200-day simple moving average is $26.34.

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

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.2875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 4.05%. Kinder Morgan’s dividend payout ratio is currently 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.