Kinder Morgan, Inc. (NYSE:KMI) Short Interest Up 8.5% in June

Kinder Morgan, Inc. (NYSE:KMI) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 46,220,000 shares, a growth of 8.5% from the June 15th total of 42,610,000 shares. Based on an average daily volume of 13,060,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.4% of the company’s stock are short sold.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.52 during trading on Thursday, hitting $21.05. 42,303,438 shares of the company’s stock traded hands, compared to its average volume of 13,966,032. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 3.19 and a beta of 0.93. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50. The business has a 50 day moving average of $19.68 and a 200-day moving average of $18.44.

Kinder Morgan (NYSE:KMI) last released 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). The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. Kinder Morgan’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, equities research analysts anticipate that Kinder Morgan will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Wednesday, July 31st. Kinder Morgan’s payout ratio is 104.55%.

Wall Street Analyst Weigh In

Several 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. UBS Group boosted their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Scotiabank boosted their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were 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 owns 345,087 shares in the company, valued at approximately $6,494,537.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kinder Morgan

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cove Street Capital LLC lifted its holdings in shares of Kinder Morgan by 185.2% in the second quarter. Cove Street Capital LLC now owns 110,942 shares of the pipeline company’s stock worth $2,204,000 after buying an additional 72,042 shares in the last quarter. Lathrop Investment Management Corp grew its stake in Kinder Morgan by 10.5% in the 2nd quarter. Lathrop Investment Management Corp now owns 674,868 shares of the pipeline company’s stock worth $13,410,000 after buying an additional 64,307 shares in the last quarter. Ellsworth Advisors LLC grew its stake in Kinder Morgan by 14.5% in the 2nd quarter. Ellsworth Advisors LLC now owns 61,228 shares of the pipeline company’s stock worth $1,217,000 after buying an additional 7,766 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Kinder Morgan by 6.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,075,388 shares of the pipeline company’s stock worth $61,108,000 after buying an additional 194,425 shares in the last quarter. Finally, Fiduciary Financial Group LLC purchased a new position in Kinder Morgan in the 2nd quarter worth approximately $297,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

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.