Van ECK Associates Corp Sells 34,193 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Van ECK Associates Corp lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 564,464 shares of the pipeline company’s stock after selling 34,193 shares during the quarter. Van ECK Associates Corp’s holdings in Kinder Morgan were worth $10,352,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Newman Dignan & Sheerar Inc. grew its stake in shares of Kinder Morgan by 4.3% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock valued at $242,000 after purchasing an additional 547 shares during the period. Accurate Wealth Management LLC boosted its stake in shares of Kinder Morgan by 2.6% in the 1st quarter. Accurate Wealth Management LLC now owns 22,598 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 568 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Kinder Morgan by 0.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 148,549 shares of the pipeline company’s stock worth $2,463,000 after purchasing an additional 599 shares during the last quarter. Cubic Asset Management LLC increased its position in shares of Kinder Morgan by 5.1% during the 4th quarter. Cubic Asset Management LLC now owns 12,292 shares of the pipeline company’s stock worth $217,000 after purchasing an additional 600 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its holdings in Kinder Morgan by 2.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 30,018 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 610 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling at Kinder Morgan

In other news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were 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 approximately $5,116,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. Company insiders own 12.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group raised their price objective 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 Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Kinder Morgan Trading Down 0.7 %

KMI traded down $0.13 during midday trading on Friday, reaching $19.83. 4,664,391 shares of the company were exchanged, compared to its average volume of 13,628,165. The stock has a market capitalization of $44.01 billion, a P/E ratio of 18.15, a PEG ratio of 3.15 and a beta of 0.93. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $20.19. The stock’s 50-day simple moving average is $19.40 and its 200 day simple moving average is $18.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Kinder Morgan Company 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.