Cary Street Partners Asset Management LLC Cuts Stake in Kinder Morgan, Inc. (NYSE:KMI)

Cary Street Partners Asset Management LLC cut its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,628 shares of the pipeline company’s stock after selling 4,395 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Kinder Morgan were worth $1,228,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KMI. Gotham Asset Management LLC grew its position in Kinder Morgan by 11.3% during the 3rd quarter. Gotham Asset Management LLC now owns 533,348 shares of the pipeline company’s stock worth $8,843,000 after acquiring an additional 54,184 shares during the last quarter. Virginia Wealth Management Group Inc. increased its position in shares of Kinder Morgan by 1.6% in the third quarter. Virginia Wealth Management Group Inc. now owns 201,278 shares of the pipeline company’s stock valued at $3,337,000 after acquiring an additional 3,085 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of Kinder Morgan by 69.2% during the third quarter. Bahl & Gaynor Inc. now owns 3,955,216 shares of the pipeline company’s stock valued at $65,577,000 after acquiring an additional 1,617,250 shares during the last quarter. Teza Capital Management LLC boosted its holdings in shares of Kinder Morgan by 190.9% during the third quarter. Teza Capital Management LLC now owns 527,280 shares of the pipeline company’s stock worth $8,742,000 after purchasing an additional 346,000 shares during the period. Finally, Rheos Capital Works Inc. grew its stake in shares of Kinder Morgan by 285.7% in the fourth quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock worth $19,051,000 after purchasing an additional 800,000 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $18.23 on Thursday. 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 business has a fifty day simple moving average of $18.05 and a two-hundred day simple moving average of $17.51. The firm has a market capitalization of $40.46 billion, a P/E ratio of 16.57, a P/E/G ratio of 5.15 and a beta of 0.89. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $18.92.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.2875 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a yield of 6.31%. Kinder Morgan’s payout ratio is presently 104.55%.

Insider Activity at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KMI has been the subject of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of “Hold” and a consensus price target 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.