Adell Harriman & Carpenter Inc. Sells 2,540 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Adell Harriman & Carpenter Inc. trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,470 shares of the pipeline company’s stock after selling 2,540 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Kinder Morgan were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Kinder Morgan in the third quarter worth about $99,908,000. Invesco Ltd. lifted its stake in Kinder Morgan by 29.4% during the 3rd quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after acquiring an additional 4,870,444 shares during the period. Bank of Nova Scotia lifted its stake in Kinder Morgan by 2,463.8% during the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock valued at $73,678,000 after acquiring an additional 4,270,461 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Kinder Morgan by 1,121.4% in the third quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company’s stock worth $65,750,000 after acquiring an additional 3,640,939 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Kinder Morgan by 68.6% during the third quarter. Kayne Anderson Capital Advisors LP now owns 5,696,090 shares of the pipeline company’s stock worth $94,441,000 after purchasing an additional 2,317,197 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.81% of the stock is owned by insiders.

Kinder Morgan Stock Down 1.1 %

NYSE KMI traded down $0.21 during trading on Tuesday, reaching $18.39. 1,825,393 shares of the company’s stock were exchanged, compared to its average volume of 14,047,482. The company has a 50 day moving average price of $18.01 and a two-hundred day moving average price of $17.49. The stock has a market cap of $40.81 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 5.28 and a beta of 0.90. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $18.92. 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 posted its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.25%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s payout ratio is presently 102.73%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reissued a “hold” rating and issued a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $20.20.

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.