Procyon Advisors LLC Purchases Shares of 10,555 Kinder Morgan, Inc. (NYSE:KMI)

Posted by Defense World Staff on Mar 29th, 2023

Procyon Advisors LLC acquired a new position in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,555 shares of the pipeline company’s stock, valued at approximately $191,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Kinder Morgan by 4.3% during the 3rd quarter. Private Trust Co. NA now owns 24,869 shares of the pipeline company’s stock worth $414,000 after buying an additional 1,026 shares during the last quarter. WealthTrust Axiom LLC increased its holdings in shares of Kinder Morgan by 2.0% during the 3rd quarter. WealthTrust Axiom LLC now owns 525,751 shares of the pipeline company’s stock worth $8,748,000 after buying an additional 10,308 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Kinder Morgan by 30.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 65,274 shares of the pipeline company’s stock worth $1,180,000 after buying an additional 15,387 shares during the last quarter. Seaport Global Advisors LLC increased its holdings in shares of Kinder Morgan by 44.7% during the 2nd quarter. Seaport Global Advisors LLC now owns 13,180 shares of the pipeline company’s stock worth $221,000 after buying an additional 4,071 shares during the last quarter. Finally, Power Corp of Canada acquired a new stake in shares of Kinder Morgan during the 3rd quarter worth $273,000. 60.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their price target on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 18th. Scotiabank assumed coverage on shares of Kinder Morgan in a research report on Thursday, March 2nd. They set a “sector perform” rating and a $20.00 price target for the company. Citigroup assumed coverage on shares of Kinder Morgan in a research report on Thursday, December 8th. They set a “neutral” rating and a $19.00 price target for the company. Morgan Stanley upped their price target on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday, January 9th. Finally, StockNews.com assumed coverage on shares of Kinder Morgan in a research report on Thursday, March 16th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.55.

Insider Activity

In other news, VP John W. Schlosser sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $18.44, for a total value of $27,660.00. Following the sale, the vice president now owns 19,719 shares in the company, valued at approximately $363,618.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $18.14, for a total transaction of $240,028.48. Following the sale, the vice president now owns 27,826 shares in the company, valued at $504,763.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John W. Schlosser sold 1,500 shares of the stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $18.44, for a total transaction of $27,660.00. Following the sale, the vice president now owns 19,719 shares in the company, valued at approximately $363,618.36. The disclosure for this sale can be found here. Company insiders own 12.51% of the company’s stock.

Kinder Morgan Stock Performance

NYSE:KMI opened at $17.06 on Wednesday. The stock has a market cap of $38.35 billion, a P/E ratio of 15.23, a PEG ratio of 5.07 and a beta of 0.95. The firm has a 50-day moving average of $17.65 and a two-hundred day moving average of $17.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.55 and a quick ratio of 0.46. Kinder Morgan, Inc. has a 1-year low of $15.77 and a 1-year high of $20.20.

Kinder Morgan (NYSE:KMI – Get Rating) last issued its earnings results on Wednesday, January 18th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.86 billion. Kinder Morgan had a net margin of 13.27% and a return on equity of 8.26%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. On average, research analysts expect that Kinder Morgan, Inc. will post 1.1 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were paid a $0.2775 dividend. The ex-dividend date of this dividend was Monday, January 30th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.51%. Kinder Morgan’s dividend payout ratio (DPR) is presently 99.11%.

Kinder Morgan announced that its board has authorized a stock repurchase program on Wednesday, January 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the pipeline company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Kinder Morgan Profile

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Kinder Morgan, Inc engages in providing pipeline transportation of natural gas services. It operates through the following business segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment operates major interstate and intrastate natural gas pipelines and storage systems.