Virginia Wealth Management Group Inc. Boosts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Virginia Wealth Management Group Inc. lifted its stake in Kinder Morgan, Inc. (NYSE:KMI) by 25.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,270 shares of the pipeline company’s stock after purchasing an additional 41,663 shares during the quarter. Kinder Morgan accounts for approximately 2.9% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 11th biggest position. Virginia Wealth Management Group Inc.’s holdings in Kinder Morgan were worth $4,601,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Clarius Group LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter worth about $206,000. San Luis Wealth Advisors LLC raised its position in shares of Kinder Morgan by 111.2% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 32,672 shares of the pipeline company’s stock worth $722,000 after purchasing an additional 17,203 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in shares of Kinder Morgan by 6.2% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 656,443 shares of the pipeline company’s stock worth $14,501,000 after purchasing an additional 38,107 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Kinder Morgan in the 3rd quarter worth about $834,000. Finally, Wedmont Private Capital raised its position in shares of Kinder Morgan by 4.5% in the 3rd quarter. Wedmont Private Capital now owns 31,678 shares of the pipeline company’s stock worth $747,000 after purchasing an additional 1,373 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of recent analyst reports. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, July 19th. Scotiabank boosted their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Truist Financial boosted their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. UBS Group boosted their target price on Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays boosted their target price on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Eight investment 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. Based on data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $23.18.

Insiders Place Their Bets

In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock worth $3,121,891 in the last three months. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.67 during mid-day trading on Friday, reaching $24.39. 2,340,689 shares of the company traded hands, compared to its average volume of 13,673,702. The company’s 50 day moving average price is $21.62 and its 200-day moving average price is $20.19. The firm has a market cap of $54.13 billion, a PE ratio of 21.56, a PEG ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan, Inc. has a 52 week low of $15.91 and a 52 week high of $24.39.

Kinder Morgan (NYSE:KMI) last posted its quarterly 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). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.2875 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 annualized dividend and a yield of 4.72%. Kinder Morgan’s payout ratio is 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.