TIAA Trust National Association Buys Shares of 16,593 Kinder Morgan, Inc. (NYSE:KMI)

TIAA Trust National Association purchased a new position in Kinder Morgan, Inc. (NYSE:KMI) in the first quarter, Holdings Channel reports. The fund purchased 16,593 shares of the pipeline company’s stock, valued at approximately $304,000.

Other institutional investors have also made changes to their positions in the company. Independent Advisor Alliance boosted its stake in shares of Kinder Morgan by 13.8% during the 4th quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock valued at $1,148,000 after buying an additional 7,912 shares during the period. Brevan Howard Capital Management LP purchased a new position in Kinder Morgan in the fourth quarter valued at about $2,101,000. LSV Asset Management acquired a new position in Kinder Morgan in the 1st quarter worth about $8,818,000. Duality Advisers LP raised its stake in shares of Kinder Morgan by 42.7% during the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock worth $5,822,000 after purchasing an additional 94,984 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Kinder Morgan by 221.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock valued at $4,615,000 after buying an additional 173,313 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. UBS Group increased their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday. Finally, Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.86.

Insider Activity

In related news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Performance

Shares of NYSE KMI traded up $0.24 during trading hours on Monday, hitting $21.73. 7,931,594 shares of the company’s stock were exchanged, compared to its average volume of 14,015,741. The company’s 50-day moving average price is $19.77 and its 200-day moving average price is $18.50. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $21.79. The stock has a market capitalization of $48.23 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.38.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.29%. Kinder Morgan’s payout ratio is 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.