New York State Common Retirement Fund Sells 243,452 Shares of Kinder Morgan, Inc. (NYSE:KMI)

New York State Common Retirement Fund lessened its stake in Kinder Morgan, Inc. (NYSE:KMI) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,338,934 shares of the pipeline company’s stock after selling 243,452 shares during the period. New York State Common Retirement Fund owned 0.11% of Kinder Morgan worth $41,259,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Kinder Morgan by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 29,869,687 shares of the pipeline company’s stock valued at $472,464,000 after acquiring an additional 87,516 shares during the last quarter. Northern Trust Corp raised its position in shares of Kinder Morgan by 3.0% during the 3rd quarter. Northern Trust Corp now owns 22,297,204 shares of the pipeline company’s stock valued at $369,688,000 after acquiring an additional 639,467 shares during the last quarter. Invesco Ltd. raised its position in shares of Kinder Morgan by 29.4% during the 3rd quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after acquiring an additional 4,870,444 shares during the last quarter. Morgan Stanley grew its holdings in shares of Kinder Morgan by 4.1% in the 3rd quarter. Morgan Stanley now owns 20,400,093 shares of the pipeline company’s stock valued at $338,234,000 after buying an additional 796,829 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Kinder Morgan in the 3rd quarter valued at $99,908,000. Institutional investors own 62.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KMI. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reissued a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.20.

Kinder Morgan Trading Up 0.3 %

Kinder Morgan stock opened at $18.81 on Thursday. The firm has a 50-day moving average of $17.91 and a 200-day moving average of $17.45. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $18.92. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The company has a market cap of $41.75 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 5.30 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.11%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s dividend payout ratio is presently 102.73%.

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the sale, the director now directly owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.64% of the stock is owned by insiders.

Kinder Morgan Company 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.