Amalgamated Bank Cuts Position in Kinder Morgan, Inc. (NYSE:KMI)

Amalgamated Bank trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 483,092 shares of the pipeline company’s stock after selling 24,870 shares during the period. Amalgamated Bank’s holdings in Kinder Morgan were worth $8,522,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Tucker Asset Management LLC purchased a new position in Kinder Morgan during the third quarter valued at $25,000. Activest Wealth Management purchased a new position in shares of Kinder Morgan in the 4th quarter worth about $30,000. OFI Invest Asset Management bought a new position in Kinder Morgan in the 3rd quarter worth about $33,000. Rakuten Securities Inc. purchased a new stake in Kinder Morgan during the 4th quarter valued at about $33,000. Finally, Gradient Investments LLC increased its stake in Kinder Morgan by 57.1% during the 4th quarter. Gradient Investments LLC now owns 2,532 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 920 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinder Morgan

In other news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction on 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 directly 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 is available at the SEC website. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com cut Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.20.

Kinder Morgan Trading Up 0.6 %

Shares of KMI stock opened at $18.57 on Friday. The stock has a market capitalization of $41.21 billion, a P/E ratio of 16.88, a P/E/G ratio of 5.23 and a beta of 0.89. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $18.10 and its 200 day moving average is $17.52. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $18.92.

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 analysts’ consensus estimates of $0.34. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Research analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 6.19%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

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.