Louisiana State Employees Retirement System Trims Position in Kinder Morgan, Inc. (NYSE:KMI)

Louisiana State Employees Retirement System trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,200 shares of the pipeline company’s stock after selling 3,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kinder Morgan were worth $2,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its position in Kinder Morgan by 3,655.3% during the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after buying an additional 1,389 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in Kinder Morgan during the fourth quarter valued at approximately $26,000. Pathway Financial Advisers LLC purchased a new position in Kinder Morgan in the 1st quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in shares of Kinder Morgan in the 1st quarter worth $31,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Kinder Morgan during the 1st quarter worth $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 1.1 %

NYSE KMI traded up $0.24 on Friday, hitting $21.24. The company’s stock had a trading volume of 4,133,068 shares, compared to its average volume of 13,953,563. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.86. The firm has a market cap of $47.14 billion, a P/E ratio of 19.19, a PEG ratio of 2.92 and a beta of 0.93. The company’s 50-day simple moving average is $20.54 and its 200 day simple moving average is $19.08.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts predict that Kinder Morgan, Inc. will post 1.2 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s payout ratio is currently 104.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Barclays boosted their target price on Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Truist Financial increased their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Scotiabank boosted their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares in the company, valued at $534,841.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is owned by insiders.

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.