IMA Wealth Inc. Decreases Holdings in Kinder Morgan, Inc. (NYSE:KMI)

IMA Wealth Inc. decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,207 shares of the pipeline company’s stock after selling 16,202 shares during the period. Kinder Morgan accounts for 1.6% of IMA Wealth Inc.’s holdings, making the stock its 20th biggest position. IMA Wealth Inc.’s holdings in Kinder Morgan were worth $3,179,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan 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 owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kinder Morgan Stock Performance

KMI stock traded down $0.12 during midday trading on Friday, hitting $18.68. 9,415,524 shares of the stock traded hands, compared to its average volume of 13,001,248. The firm has a market cap of $41.46 billion, a P/E ratio of 16.98, a PEG ratio of 5.31 and a beta of 0.90. 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 stock’s fifty day simple moving average is $17.98 and its 200-day simple moving average is $17.47. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $18.92.

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

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.16%. The ex-dividend date is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

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.