Hartford Investment Management Co. Reduces Stake in Kinder Morgan, Inc. (NYSE:KMI)

Hartford Investment Management Co. reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,190 shares of the pipeline company’s stock after selling 2,306 shares during the period. Hartford Investment Management Co.’s holdings in Kinder Morgan were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KMI. Wesbanco Bank Inc. boosted its stake in shares of Kinder Morgan by 38.3% in the 3rd quarter. Wesbanco Bank Inc. now owns 160,415 shares of the pipeline company’s stock worth $3,544,000 after buying an additional 44,423 shares during the last quarter. Creative Planning lifted its position in Kinder Morgan by 5.2% during the third quarter. Creative Planning now owns 412,376 shares of the pipeline company’s stock valued at $9,109,000 after purchasing an additional 20,468 shares in the last quarter. Magnus Financial Group LLC lifted its position in Kinder Morgan by 4.2% during the third quarter. Magnus Financial Group LLC now owns 14,509 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 588 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Kinder Morgan during the third quarter valued at $232,000. Finally, CFM Wealth Partners LLC lifted its position in Kinder Morgan by 19.0% during the third quarter. CFM Wealth Partners LLC now owns 27,519 shares of the pipeline company’s stock valued at $608,000 after purchasing an additional 4,392 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total transaction of $492,120.00. Following the completion of the transaction, the president now owns 879,652 shares in the company, valued at $24,049,685.68. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 54,000 shares of company stock worth $1,493,100 over the last 90 days. Company insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price on Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Truist Financial raised their price target on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Bank of America assumed coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average target price of $29.14.

Kinder Morgan Trading Down 1.9 %

Shares of NYSE KMI opened at $26.29 on Thursday. The business’s 50 day moving average is $27.87 and its two-hundred day moving average is $25.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.35. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $31.48. The stock has a market capitalization of $58.41 billion, a P/E ratio of 22.47, a PEG ratio of 3.16 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.23 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 4.37%. Kinder Morgan’s payout ratio is currently 98.29%.

Kinder Morgan Company 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.