Citizens Financial Group Inc. RI Acquires New Position in Kinder Morgan, Inc. (NYSE:KMI)

Citizens Financial Group Inc. RI bought a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,876 shares of the pipeline company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds also recently bought and sold shares of KMI. SignalPoint Asset Management LLC lifted its holdings in Kinder Morgan by 1.5% in the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after acquiring an additional 447 shares during the last quarter. Moors & Cabot Inc. raised its position in Kinder Morgan by 0.3% in the third quarter. Moors & Cabot Inc. now owns 144,529 shares of the pipeline company’s stock valued at $3,193,000 after purchasing an additional 468 shares during the period. Trust Co. of Oklahoma lifted its stake in shares of Kinder Morgan by 1.5% in the 3rd quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 486 shares during the last quarter. Pinnacle West Asset Management Inc. grew its holdings in shares of Kinder Morgan by 0.5% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock worth $2,124,000 after purchasing an additional 500 shares during the period. Finally, Carson Advisory Inc. increased its position in shares of Kinder Morgan by 3.4% during the 3rd quarter. Carson Advisory Inc. now owns 15,901 shares of the pipeline company’s stock worth $351,000 after purchasing an additional 522 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada boosted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Truist Financial raised their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.36.

Kinder Morgan Stock Performance

NYSE KMI opened at $28.49 on Friday. The business’s 50-day moving average price is $24.56 and its 200 day moving average price is $21.82. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The firm has a market cap of $63.29 billion, a P/E ratio of 24.99, a P/E/G ratio of 4.11 and a beta of 0.91. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.81.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now directly owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now owns 897,652 shares in the company, valued at $23,590,294.56. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

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.