Sumitomo Life Insurance Co. Trims Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Sumitomo Life Insurance Co. lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,917 shares of the pipeline company’s stock after selling 407 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Kinder Morgan were worth $601,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SteelPeak Wealth LLC lifted its position in shares of Kinder Morgan by 3.0% during the fourth quarter. SteelPeak Wealth LLC now owns 55,225 shares of the pipeline company’s stock worth $1,513,000 after purchasing an additional 1,614 shares during the last quarter. Stonegate Investment Group LLC grew its stake in Kinder Morgan by 3.9% in the 4th quarter. Stonegate Investment Group LLC now owns 25,846 shares of the pipeline company’s stock worth $708,000 after acquiring an additional 980 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Kinder Morgan by 18.2% during the fourth quarter. Perigon Wealth Management LLC now owns 14,170 shares of the pipeline company’s stock worth $426,000 after acquiring an additional 2,183 shares during the period. W Advisors LLC bought a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $223,000. Finally, Nilsine Partners LLC grew its stake in Kinder Morgan by 13.0% in the fourth quarter. Nilsine Partners LLC now owns 16,856 shares of the pipeline company’s stock worth $462,000 after purchasing an additional 1,938 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $28.08 on Friday. The stock has a market cap of $62.37 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.13 and a beta of 0.94. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $31.48. The company has a 50 day simple moving average of $28.00 and a two-hundred day simple moving average of $24.62. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.10%. As a group, analysts predict that Kinder Morgan, Inc. will post 1.27 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.10%. The ex-dividend date is Monday, February 3rd. Kinder Morgan’s dividend payout ratio is currently 98.29%.

Insiders Place Their Bets

In related news, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares in the company, valued at $23,590,294.56. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy W. Chronis purchased 2,241 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 23,995 shares of the company’s stock, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 55,121 shares of company stock worth $1,497,000. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KMI. Scotiabank initiated coverage on Kinder Morgan in a report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 target price for the company. Mizuho boosted their price objective on shares of Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial lifted 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. Royal Bank of Canada increased their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Citigroup upped their price target on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.14.

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.