Ontario Teachers Pension Plan Board Makes New $606,000 Investment in Kinder Morgan, Inc. (NYSE:KMI)

Ontario Teachers Pension Plan Board acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,377 shares of the pipeline company’s stock, valued at approximately $606,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Kinder Morgan by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,187,667 shares of the pipeline company’s stock worth $506,320,000 after purchasing an additional 317,980 shares during the period. Norges Bank bought a new stake in Kinder Morgan in the fourth quarter valued at $409,063,000. Northern Trust Corp lifted its stake in Kinder Morgan by 3.0% in the third quarter. Northern Trust Corp now owns 22,297,204 shares of the pipeline company’s stock valued at $369,688,000 after buying an additional 639,467 shares during the last quarter. Invesco Ltd. lifted its stake in Kinder Morgan by 29.4% in the third quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after buying an additional 4,870,444 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Kinder Morgan by 4.1% in the third quarter. Morgan Stanley now owns 20,400,093 shares of the pipeline company’s stock valued at $338,234,000 after buying an additional 796,829 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the transaction, the vice president now 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 at the SEC website. 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 stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the sale, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. 12.64% of the stock is owned by company insiders.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $19.07 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $18.59 and its two-hundred day moving average price is $17.79. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $19.93. The stock has a market cap of $42.32 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the business earned $0.30 earnings per share. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a $0.2875 dividend. The ex-dividend date of this dividend was Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 6.03%. 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.