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

New York State Common Retirement Fund lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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’s holdings in Kinder Morgan were worth $41,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC raised its position in shares of Kinder Morgan by 11.3% in the third quarter. Gotham Asset Management LLC now owns 533,348 shares of the pipeline company’s stock valued at $8,843,000 after purchasing an additional 54,184 shares during the period. Virginia Wealth Management Group Inc. increased its holdings in Kinder Morgan by 1.6% during the 3rd quarter. Virginia Wealth Management Group Inc. now owns 201,278 shares of the pipeline company’s stock worth $3,337,000 after acquiring an additional 3,085 shares during the period. Bahl & Gaynor Inc. increased its holdings in Kinder Morgan by 69.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 3,955,216 shares of the pipeline company’s stock worth $65,577,000 after acquiring an additional 1,617,250 shares during the period. Teza Capital Management LLC increased its holdings in Kinder Morgan by 190.9% during the 3rd quarter. Teza Capital Management LLC now owns 527,280 shares of the pipeline company’s stock worth $8,742,000 after acquiring an additional 346,000 shares during the period. Finally, Rheos Capital Works Inc. grew its stake in Kinder Morgan by 285.7% in the 4th quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock worth $19,051,000 after buying an additional 800,000 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

KMI stock opened at $18.81 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.50. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $18.92. The firm’s fifty day moving average is $17.91 and its 200 day moving average is $17.45. The firm has a market cap of $41.75 billion, a P/E ratio of 17.10, a P/E/G ratio of 5.30 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last released its 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Research analysts predict 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. Shareholders 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 yield of 6.11%. 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 102.73%.

Analysts Set New Price Targets

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

Kinder Morgan 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.