Short Interest in Kinder Morgan, Inc. (NYSE:KMI) Drops By 5.8%

Kinder Morgan, Inc. (NYSE:KMI) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 40,290,000 shares, a drop of 5.8% from the October 31st total of 42,760,000 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 13,780,000 shares, the days-to-cover ratio is currently 2.9 days.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $27.42 on Wednesday. Kinder Morgan has a 12-month low of $16.47 and a 12-month high of $28.81. The stock has a 50-day simple moving average of $25.41 and a 200 day simple moving average of $22.26. 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 stock has a market capitalization of $60.92 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.95 and a beta of 0.95.

Kinder Morgan (NYSE:KMI) last announced 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). The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. Kinder Morgan’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, 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 announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.19%. Kinder Morgan’s payout ratio is currently 100.88%.

Insiders Place Their Bets

In related news, Director Amy W. Chronis acquired 2,241 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.81% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Kinder Morgan during the 3rd quarter valued at about $28,000. Planning Capital Management Corp lifted its holdings in Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after buying an additional 797 shares during the period. HM Payson & Co. boosted its stake in Kinder Morgan by 401.8% in the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,145 shares during the last quarter. Activest Wealth Management grew its holdings in Kinder Morgan by 63.0% during the 3rd quarter. Activest Wealth Management now owns 1,478 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 571 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Kinder Morgan during the 2nd quarter valued at $30,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KMI shares. The Goldman Sachs Group lifted their price objective on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Barclays raised their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Bank of America began coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Wells Fargo & Company lifted their price objective on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.67.

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.