Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,395 shares of the pipeline company’s stock after selling 63,071 shares during the period. M&T Bank Corp’s holdings in Kinder Morgan were worth $4,073,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Kinder Morgan in the third quarter worth about $28,000. Planning Capital Management Corp grew its position in Kinder Morgan by 143.6% during the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 797 shares in the last quarter. HM Payson & Co. raised its position in Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after buying an additional 1,145 shares during the period. Activest Wealth Management lifted its position in shares of Kinder Morgan by 63.0% in the third quarter. Activest Wealth Management now owns 1,478 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 571 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in shares of Kinder Morgan during the 2nd quarter valued at $30,000. 62.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KMI. Stifel Nicolaus lifted their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Truist Financial increased their price objective on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays boosted their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.75.

Kinder Morgan Stock Performance

KMI stock opened at $26.90 on Friday. The stock has a market capitalization of $59.76 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 4.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company has a 50 day moving average price of $26.03 and a 200 day moving average price of $22.57. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $28.81.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $0.25 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.28%. Kinder Morgan’s payout ratio is currently 100.88%.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total transaction of $492,120.00. Following the completion of the transaction, the president now owns 879,652 shares of the company’s stock, valued at $24,049,685.68. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy W. Chronis purchased 2,241 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 727,263 shares of company stock worth $18,075,634. 12.64% of the stock is currently owned by company insiders.

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.