Illinois Municipal Retirement Fund Grows Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Illinois Municipal Retirement Fund boosted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 737,820 shares of the pipeline company’s stock after purchasing an additional 136,902 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kinder Morgan were worth $13,015,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KMI. Tucker Asset Management LLC bought a new stake in shares of Kinder Morgan in the 3rd quarter worth $25,000. Hartford Financial Management Inc. bought a new position in Kinder Morgan in the third quarter worth approximately $26,000. Activest Wealth Management bought a new position in shares of Kinder Morgan in the fourth quarter worth $30,000. OFI Invest Asset Management bought a new stake in Kinder Morgan in the third quarter valued at approximately $33,000. Finally, Rakuten Securities Inc. purchased a new stake in Kinder Morgan during the 4th quarter valued at about $33,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Stock Performance

NYSE KMI traded down $0.05 during trading hours on Tuesday, hitting $18.77. The company had a trading volume of 4,909,869 shares, compared to its average volume of 14,182,980. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $18.92. The company has a quick ratio of 0.28, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The firm has a market cap of $41.66 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 5.32 and a beta of 0.90. The business has a fifty day simple moving average of $17.82 and a 200-day simple moving average of $17.42.

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

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.13%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s payout ratio is presently 102.73%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial reiterated a “hold” rating and set a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.20.

About Kinder Morgan

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.