Jacobi Capital Management LLC Has $258,000 Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Jacobi Capital Management LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,085 shares of the pipeline company’s stock after selling 1,225 shares during the period. Jacobi Capital Management LLC’s holdings in Kinder Morgan were worth $258,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Kinder Morgan by 3,655.3% in the 4th 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 acquired a new stake in Kinder Morgan during the 4th quarter valued at $26,000. Activest Wealth Management acquired a new stake in Kinder Morgan during the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new stake in Kinder Morgan during the 1st quarter valued at $31,000. Finally, OFI Invest Asset Management acquired a new stake in Kinder Morgan during the 1st quarter valued at $31,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Truist Financial reissued a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Scotiabank lifted their target price on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. UBS Group raised their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Finally, Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.86.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Trading Down 0.9 %

KMI stock traded down $0.19 during midday trading on Tuesday, hitting $21.66. 3,810,186 shares of the company’s stock were exchanged, compared to its average volume of 13,997,581. The stock’s fifty day moving average price is $19.83 and its 200-day moving average price is $18.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.38 and a current ratio of 0.37. The company has a market cap of $48.07 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.21 and a beta of 0.93. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $21.86.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share 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 the consensus estimate of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 yield of 5.31%. Kinder Morgan’s dividend payout ratio 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.