NorthCrest Asset Manangement LLC Grows Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

NorthCrest Asset Manangement LLC grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,524 shares of the pipeline company’s stock after purchasing an additional 6,615 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Kinder Morgan were worth $4,660,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Maia Wealth LLC purchased a new position in shares of Kinder Morgan during the second quarter worth approximately $208,000. M&G Plc bought a new stake in Kinder Morgan in the second quarter worth $2,085,000. Roman Butler Fullerton & Co. increased its holdings in shares of Kinder Morgan by 23.3% in the second quarter. Roman Butler Fullerton & Co. now owns 32,686 shares of the pipeline company’s stock worth $657,000 after buying an additional 6,168 shares during the period. Wedmont Private Capital lifted its stake in shares of Kinder Morgan by 5.7% in the 2nd quarter. Wedmont Private Capital now owns 30,305 shares of the pipeline company’s stock valued at $612,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Alhambra Investment Management LLC grew its position in Kinder Morgan by 48.1% during the 2nd quarter. Alhambra Investment Management LLC now owns 15,229 shares of the pipeline company’s stock worth $303,000 after acquiring an additional 4,944 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

NYSE:KMI traded up $0.04 during mid-day trading on Wednesday, reaching $20.96. The company’s stock had a trading volume of 1,764,972 shares, compared to its average volume of 14,131,399. The firm’s fifty day moving average price is $20.36 and its two-hundred day moving average price is $18.91. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. The stock has a market cap of $46.52 billion, a P/E ratio of 19.02, a PEG ratio of 2.92 and a beta of 0.93. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $21.86.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.2 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.2875 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.49%. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares in the company, valued at approximately $534,841.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares in the company, valued at $5,116,612.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,582 shares of company stock valued at $4,073,082. 12.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 30th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, July 19th. Scotiabank increased their price objective on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, Truist Financial boosted their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

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.