Everence Capital Management Inc. Acquires Shares of 141,900 Kinder Morgan, Inc. (NYSE:KMI)

Everence Capital Management Inc. acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 141,900 shares of the pipeline company’s stock, valued at approximately $3,888,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in Kinder Morgan by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock valued at $101,422,000 after acquiring an additional 29,861 shares during the period. Global Retirement Partners LLC increased its stake in shares of Kinder Morgan by 3.5% during the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock valued at $504,000 after purchasing an additional 776 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Kinder Morgan by 3.2% during the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock valued at $50,624,000 after purchasing an additional 71,984 shares during the last quarter. Czech National Bank boosted its position in shares of Kinder Morgan by 6.9% in the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after purchasing an additional 25,406 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of Kinder Morgan by 1,512.7% in the 3rd quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock worth $1,956,000 after buying an additional 83,090 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Kinder Morgan stock traded up $0.32 during mid-day trading on Friday, reaching $28.43. 2,582,823 shares of the stock traded hands, compared to its average volume of 8,079,938. Kinder Morgan, Inc. has a 12-month low of $16.47 and a 12-month high of $28.81. The business’s 50-day moving average is $26.89 and its 200-day moving average is $23.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The stock has a market capitalization of $63.16 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. Kinder Morgan’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed 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. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Analysts Set New Price Targets

KMI has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Bank of America initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective on the stock. Morgan Stanley set a $26.00 target price on shares of Kinder Morgan in a report on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial boosted their price objective 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. Eight equities research 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 stock. According to MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

Insider Transactions at Kinder Morgan

In related 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 transaction of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy W. Chronis bought 2,241 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, 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 disclosure for this purchase can be found here. Insiders sold 745,263 shares of company stock worth $18,578,014 in the last three months. Corporate insiders own 12.64% of the company’s stock.

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.