Infrastructure Capital Advisors LLC Boosts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Infrastructure Capital Advisors LLC lifted its position in Kinder Morgan, Inc. (NYSE:KMI) by 36.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,817 shares of the pipeline company’s stock after purchasing an additional 87,529 shares during the quarter. Kinder Morgan accounts for about 1.0% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 22nd largest holding. Infrastructure Capital Advisors LLC’s holdings in Kinder Morgan were worth $7,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $30,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan in the 2nd quarter worth about $30,000. Planning Capital Management Corp boosted its holdings in shares of Kinder Morgan by 143.6% in 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. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Kinder Morgan in the 2nd quarter worth about $31,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Stock Down 0.1 %

Shares of NYSE:KMI opened at $28.07 on Friday. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.81. The firm has a market capitalization of $62.36 billion, a P/E ratio of 24.62, a P/E/G ratio of 4.04 and a beta of 0.91. The stock has a 50 day moving average price of $25.08 and a 200-day moving average price of $22.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46.

Kinder Morgan (NYSE:KMI) last announced 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 return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.10%. Kinder Morgan’s payout ratio is currently 100.88%.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the sale, the president now owns 897,652 shares in the company, valued at $23,590,294.56. This represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy W. Chronis purchased 2,241 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, the director now directly owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KMI shares. Barclays boosted their target price on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Truist Financial boosted their target price on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Bank of America assumed coverage on Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price for the company. Stifel Nicolaus upped their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, UBS Group upped their price target on Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

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.