Chase Investment Counsel Corp Lowers Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Chase Investment Counsel Corp lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,240 shares of the pipeline company’s stock after selling 2,928 shares during the quarter. Chase Investment Counsel Corp’s holdings in Kinder Morgan were worth $445,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in 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 valued at $472,464,000 after purchasing an additional 87,516 shares during the period. Northern Trust Corp grew its position in shares of Kinder Morgan by 3.0% during the 3rd quarter. Northern Trust Corp now owns 22,297,204 shares of the pipeline company’s stock valued at $369,688,000 after buying an additional 639,467 shares during the last quarter. Invesco Ltd. boosted its stake in Kinder Morgan by 29.4% in the third quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after acquiring an additional 4,870,444 shares during the period. Morgan Stanley boosted 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 valued at $338,234,000 after acquiring an additional 796,829 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Kinder Morgan in the third quarter valued at approximately $99,908,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan 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 transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.81% of the company’s stock.

Kinder Morgan Stock Up 1.0 %

Shares of KMI traded up $0.18 during mid-day trading on Monday, reaching $18.57. The company’s stock had a trading volume of 5,301,054 shares, compared to its average volume of 14,135,195. The business has a fifty day moving average of $17.98 and a 200 day moving average of $17.48. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The company has a market cap of $41.21 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 5.28 and a beta of 0.90. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $18.92.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.19%. Kinder Morgan’s dividend payout ratio is currently 102.73%.

Analysts Set New Price Targets

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

About Kinder Morgan

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.