Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,953 shares of the pipeline company’s stock after selling 121,319 shares during the period. New York Life Investment Management LLC’s holdings in Kinder Morgan were worth $5,344,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KMI. Tucker Asset Management LLC acquired a new position in Kinder Morgan during the 3rd quarter valued at about $25,000. Activest Wealth Management acquired a new position in shares of Kinder Morgan during the fourth quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in Kinder Morgan in the 3rd quarter worth approximately $33,000. Rakuten Securities Inc. acquired a new stake in Kinder Morgan in the 4th quarter valued at approximately $33,000. Finally, Gradient Investments LLC raised its stake in Kinder Morgan by 57.1% during the 4th quarter. Gradient Investments LLC now owns 2,532 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 920 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KMI. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.20.

Kinder Morgan Trading Up 0.7 %

Shares of Kinder Morgan stock opened at $18.58 on Friday. The business has a fifty day simple moving average of $18.07 and a 200-day simple moving average of $17.51. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $18.92. The firm has a market cap of $41.24 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 5.20 and a beta of 0.89. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its quarterly 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 company 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%. Kinder Morgan’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.2875 dividend. This is a positive change 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 annualized dividend and a yield of 6.19%. Kinder Morgan’s payout ratio is 104.55%.

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, the director now directly 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 can be accessed through the SEC website. Insiders own 12.64% of the company’s stock.

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.