Russell Investments Group Ltd. Sells 760,392 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Russell Investments Group Ltd. lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,597,364 shares of the pipeline company’s stock after selling 760,392 shares during the period. Russell Investments Group Ltd. owned 0.12% of Kinder Morgan worth $45,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SageView Advisory Group LLC lifted its holdings in shares of Kinder Morgan by 3.0% during the third quarter. SageView Advisory Group LLC now owns 20,607 shares of the pipeline company’s stock valued at $342,000 after purchasing an additional 596 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Kinder Morgan by 0.4% in the third quarter. Wesbanco Bank Inc. now owns 148,549 shares of the pipeline company’s stock worth $2,463,000 after acquiring an additional 599 shares in the last quarter. Cubic Asset Management LLC grew its stake in shares of Kinder Morgan by 5.1% in the fourth quarter. Cubic Asset Management LLC now owns 12,292 shares of the pipeline company’s stock worth $217,000 after acquiring an additional 600 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of Kinder Morgan by 0.8% in the third quarter. Argonautica Private Wealth Management Inc. now owns 80,421 shares of the pipeline company’s stock worth $1,333,000 after acquiring an additional 615 shares during the last quarter. Finally, Pacifica Partners Inc. increased its holdings in shares of Kinder Morgan by 0.3% during the fourth quarter. Pacifica Partners Inc. now owns 183,827 shares of the pipeline company’s stock valued at $3,217,000 after acquiring an additional 620 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinder Morgan

In other news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KMI. Truist Financial reiterated a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.20.

Kinder Morgan Stock Down 0.4 %

KMI opened at $18.60 on Tuesday. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $18.92. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $18.01 and a 200-day moving average price of $17.49. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 5.28 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 6.18%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s dividend payout ratio (DPR) is presently 102.73%.

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.