Allworth Financial LP Raises Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Allworth Financial LP increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 78.6% in the fourth quarter, HoldingsChannel reports. The firm owned 68,485 shares of the pipeline company’s stock after buying an additional 30,131 shares during the quarter. Allworth Financial LP’s holdings in Kinder Morgan were worth $1,876,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter worth about $25,000. Modus Advisors LLC purchased a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in Kinder Morgan during the third quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $29,000. Finally, Planning Capital Management Corp raised its holdings in Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 797 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price target on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. Truist Financial increased their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their target price on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Finally, Mizuho upped their price target on shares of Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.14.

Kinder Morgan Price Performance

KMI stock opened at $26.77 on Wednesday. The firm has a market cap of $59.48 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 3.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.49. Kinder Morgan, Inc. has a 1 year low of $17.00 and a 1 year high of $31.48. The stock has a 50-day simple moving average of $27.79 and a 200-day simple moving average of $25.19.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. On average, equities analysts predict that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.2875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 4.30%. Kinder Morgan’s payout ratio is currently 98.29%.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total value of $492,120.00. Following the completion of the transaction, the president now owns 879,652 shares of the company’s stock, valued at approximately $24,049,685.68. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 54,000 shares of company stock worth $1,493,100 over the last ninety days. Corporate insiders own 12.64% of the company’s stock.

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.