HB Wealth Management LLC Acquires New Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Posted by Defense World Staff on Apr 1st, 2023

HB Wealth Management LLC acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 30,726 shares of the pipeline company’s stock, valued at approximately $556,000.

Several other institutional investors and hedge funds have also modified their holdings of KMI. BlackRock Inc. grew its position in shares of Kinder Morgan by 6.9% in the 3rd quarter. BlackRock Inc. now owns 176,745,605 shares of the pipeline company’s stock valued at $2,941,047,000 after purchasing an additional 11,465,781 shares during the period. Goldman Sachs Group Inc. lifted its stake in Kinder Morgan by 142.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 14,019,299 shares of the pipeline company’s stock valued at $234,963,000 after acquiring an additional 8,234,559 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Kinder Morgan during the 3rd quarter worth approximately $93,819,000. Renaissance Technologies LLC bought a new stake in shares of Kinder Morgan during the 1st quarter worth approximately $69,969,000. Finally, State Street Corp raised its stake in shares of Kinder Morgan by 2.3% during the 3rd quarter. State Street Corp now owns 143,044,363 shares of the pipeline company’s stock worth $2,380,258,000 after purchasing an additional 3,253,951 shares in the last quarter. 60.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KMI. StockNews.com began coverage on Kinder Morgan in a report on Thursday, March 16th. They set a “hold” rating on the stock. Barclays upped their price objective on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. Citigroup initiated coverage on Kinder Morgan in a report on Thursday, December 8th. They issued a “neutral” rating and a $19.00 price objective on the stock. Sanford C. Bernstein raised Kinder Morgan from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $22.00 in a report on Wednesday, March 1st. Finally, Scotiabank started coverage on Kinder Morgan in a report on Thursday, March 2nd. They set a “sector perform” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.55.

Insider Transactions at Kinder Morgan

In other news, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $18.14, for a total value of $240,028.48. Following the completion of the transaction, the vice president now owns 27,826 shares of the company’s stock, valued at approximately $504,763.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Anthony B. Ashley sold 13,232 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $18.14, for a total value of $240,028.48. Following the sale, the vice president now owns 27,826 shares in the company, valued at approximately $504,763.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John W. Schlosser sold 1,500 shares of Kinder Morgan stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $18.44, for a total value of $27,660.00. Following the transaction, the vice president now owns 19,719 shares of the company’s stock, valued at approximately $363,618.36. The disclosure for this sale can be found here. Corporate insiders own 14.22% of the company’s stock.

Kinder Morgan Trading Up 1.2 %

NYSE KMI opened at $17.51 on Friday. The stock has a 50-day moving average of $17.58 and a 200-day moving average of $17.85. The firm has a market cap of $39.36 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 5.21 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 0.88. 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 released its quarterly earnings results on Wednesday, January 18th. The pipeline company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.86 billion. Kinder Morgan had a return on equity of 8.26% and a net margin of 13.27%. Kinder Morgan’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.1 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Monday, January 30th. Kinder Morgan’s dividend payout ratio is currently 99.11%.

Kinder Morgan announced that its board has approved a share buyback program on Wednesday, January 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the pipeline company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.