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TruWealth Advisors LLC Buys 25,624 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Financial News Live · Oct 2, 2022 11:42

TruWealth Advisors LLC raised its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 128.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,545 shares of the pipeline company's stock after acquiring an additional 25,624 shares during the quarter. TruWealth Advisors LLC's holdings in Kinder Morgan were worth $763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KMI. Blackstone Inc. lifted its holdings in shares of Kinder Morgan by 669.7% during the 1st quarter. Blackstone Inc. now owns 21,427,814 shares of the pipeline company's stock valued at $405,200,000 after purchasing an additional 18,643,966 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at $243,159,000. Ensign Peak Advisors Inc lifted its holdings in shares of Kinder Morgan by 199.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 7,942,212 shares of the pipeline company's stock valued at $150,186,000 after purchasing an additional 5,288,215 shares during the last quarter. State Street Corp lifted its holdings in shares of Kinder Morgan by 2.8% during the 1st quarter. State Street Corp now owns 142,290,641 shares of the pipeline company's stock valued at $2,690,716,000 after purchasing an additional 3,910,495 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Kinder Morgan during the 1st quarter valued at $69,969,000. Institutional investors own 61.12% of the company's stock.

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Kinder Morgan Price Performance

Shares of KMI opened at $16.64 on Friday. The business's 50-day moving average is $18.04 and its two-hundred day moving average is $18.23. The company has a market capitalization of $37.49 billion, a P/E ratio of 15.55, a P/E/G ratio of 4.65 and a beta of 0.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.42 and a current ratio of 0.52. Kinder Morgan, Inc. has a fifty-two week low of $15.01 and a fifty-two week high of $20.20.

Kinder Morgan (NYSE:KMI – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The pipeline company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $3.67 billion. Kinder Morgan had a return on equity of 7.82% and a net margin of 13.76%. The firm's revenue for the quarter was up 63.5% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. Research analysts predict that Kinder Morgan, Inc. will post 1.2 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend was Friday, July 29th. Kinder Morgan's dividend payout ratio (DPR) is presently 103.74%.

Insider Activity

In other news, VP John W. Schlosser sold 1,500 shares of the firm's stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $19.17, for a total transaction of $28,755.00. Following the sale, the vice president now directly owns 27,219 shares in the company, valued at approximately $521,788.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP John W. Schlosser sold 1,500 shares of the firm's stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $19.17, for a total transaction of $28,755.00. Following the sale, the vice president now directly owns 27,219 shares in the company, valued at approximately $521,788.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John W. Schlosser sold 3,000 shares of the firm's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the sale, the vice president now owns 28,719 shares in the company, valued at $516,942. The disclosure for this sale can be found here. Insiders own 14.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KMI shares. UBS Group raised their target price on Kinder Morgan to $25.00 in a research note on Friday, July 22nd. The Goldman Sachs Group upgraded Kinder Morgan from a "sell" rating to a "neutral" rating and set a $19.00 target price for the company in a research note on Wednesday, September 7th. Finally, Barclays raised their target price on Kinder Morgan from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kinder Morgan currently has a consensus rating of "Hold" and a consensus target price of $21.00.

Kinder Morgan Company Profile

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Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground 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 liquefaction and storage facilities.