Illinois Municipal Retirement Fund Lowers Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Illinois Municipal Retirement Fund reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,410 shares of the pipeline company’s stock after selling 41,410 shares during the period. Illinois Municipal Retirement Fund’s holdings in Kinder Morgan were worth $13,838,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KMI. Independent Advisor Alliance increased its position in shares of Kinder Morgan by 13.8% during the fourth quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock valued at $1,148,000 after acquiring an additional 7,912 shares in the last quarter. LSV Asset Management bought a new stake in Kinder Morgan in the 1st quarter worth about $8,818,000. Brevan Howard Capital Management LP purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at about $2,101,000. Duality Advisers LP lifted its position in Kinder Morgan by 42.7% during the first quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock valued at $5,822,000 after purchasing an additional 94,984 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Kinder Morgan by 221.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock worth $4,615,000 after purchasing an additional 173,313 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

NYSE:KMI traded down $0.35 on Friday, reaching $21.13. 11,478,546 shares of the company’s stock traded hands, compared to its average volume of 13,919,089. The firm has a market cap of $46.90 billion, a PE ratio of 19.21, a P/E/G ratio of 3.00 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $20.89 and a 200-day simple moving average of $19.43. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $21.86.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.44%. Kinder Morgan’s dividend payout ratio is 104.55%.

Analysts Set New Price Targets

KMI has been the topic of a number of recent research reports. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Friday, July 19th. Barclays raised their price objective on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Truist Financial lifted their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada upped their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now owns 25,169 shares in the company, valued at approximately $534,841.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the transaction, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,311 shares of company stock valued at $3,121,891. Corporate insiders own 12.64% of the company’s stock.

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.