Pallas Capital Advisors LLC Increases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Pallas Capital Advisors LLC grew its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 17.2% in the third quarter, HoldingsChannel.com reports. The firm owned 21,542 shares of the pipeline company’s stock after buying an additional 3,155 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Kinder Morgan were worth $476,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan during the third quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of Kinder Morgan during the 1st quarter valued at about $30,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan during the 2nd quarter worth $30,000. Strategic Financial Concepts LLC bought a new stake in Kinder Morgan during the second quarter valued at about $31,000. Finally, ZRC Wealth Management LLC bought a new stake in Kinder Morgan during the 3rd quarter worth approximately $36,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KMI. Barclays lifted their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Truist Financial upped their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley set a $26.00 target price on Kinder Morgan in a report on Friday, October 18th. Royal Bank of Canada lifted their price target on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Insider Activity

In related news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $24.84 on Thursday. The firm has a market cap of $55.13 billion, a PE ratio of 22.58, a P/E/G ratio of 3.06 and a beta of 0.93. The business has a 50-day moving average price of $22.72 and a 200 day moving average price of $20.84. The company has a quick ratio of 0.28, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a twelve month low of $16.06 and a twelve month high of $25.43.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the company earned $0.25 EPS. Kinder Morgan’s revenue was down 5.3% compared to the same quarter last year. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) 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.