Global Retirement Partners LLC Raises Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Posted by Defense World Staff on Aug 11th, 2023

Global Retirement Partners LLC boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 57.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,439 shares of the pipeline company’s stock after acquiring an additional 4,188 shares during the quarter. Global Retirement Partners LLC’s holdings in Kinder Morgan were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Freedom Wealth Alliance LLC purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $27,000. US Asset Management LLC purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $33,000. Laffer Tengler Investments lifted its holdings in Kinder Morgan by 103.5% in the 4th quarter. Laffer Tengler Investments now owns 1,966 shares of the pipeline company’s stock worth $36,000 after buying an additional 1,000 shares during the period. Hollencrest Capital Management purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $44,000. Finally, Certified Advisory Corp purchased a new stake in Kinder Morgan in the 1st quarter worth approximately $49,000. 61.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kinder Morgan news, VP John W. Schlosser sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $18.00, for a total transaction of $135,000.00. Following the sale, the vice president now directly owns 12,219 shares of the company’s stock, valued at $219,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinder Morgan news, VP John W. Schlosser sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $18.00, for a total transaction of $135,000.00. Following the completion of the transaction, the vice president now owns 12,219 shares in the company, valued at $219,942. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sital K. Mody sold 55,849 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $17.36, for a total value of $969,538.64. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KMI. Stifel Nicolaus increased their target price on Kinder Morgan from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Barclays decreased their target price on Kinder Morgan from $20.00 to $19.00 in a research report on Tuesday, July 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $20.00 price objective on shares of Kinder Morgan in a research report on Thursday, July 20th. StockNews.com began coverage on Kinder Morgan in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Wolfe Research raised Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Hold” and an average price target of $20.10.

View Our Latest Analysis on KMI

Kinder Morgan Trading Down 0.1 %

Shares of KMI stock opened at $17.54 on Friday. Kinder Morgan, Inc. has a 12-month low of $16.00 and a 12-month high of $19.35. The company has a current ratio of 0.49, a quick ratio of 0.38 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average price is $17.19 and its 200-day moving average price is $17.28. The stock has a market capitalization of $39.08 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 5.36 and a beta of 0.95.

Kinder Morgan (NYSE:KMI – Get Free Report) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Kinder Morgan had a return on equity of 7.79% and a net margin of 14.65%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $4.55 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was down 32.0% compared to the same quarter last year. Equities research analysts predict that Kinder Morgan, Inc. will post 1.08 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.2825 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $1.13 annualized dividend and a yield of 6.44%. Kinder Morgan’s payout ratio is currently 101.80%.

About Kinder Morgan

(Free Report)

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 gasification, liquefaction, and storage facilities.