Spirit of America Management Corp NY Reduces Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Spirit of America Management Corp NY lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,244 shares of the pipeline company’s stock after selling 8,000 shares during the period. Kinder Morgan makes up 2.1% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 9th largest holding. Spirit of America Management Corp NY’s holdings in Kinder Morgan were worth $10,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CX Institutional lifted its stake in shares of Kinder Morgan by 2.3% in the fourth quarter. CX Institutional now owns 15,661 shares of the pipeline company’s stock worth $429,000 after buying an additional 354 shares in the last quarter. Sunflower Bank N.A. lifted its stake in shares of Kinder Morgan by 3.6% in the fourth quarter. Sunflower Bank N.A. now owns 10,503 shares of the pipeline company’s stock worth $288,000 after buying an additional 367 shares in the last quarter. Ignite Planners LLC lifted its stake in shares of Kinder Morgan by 3.9% in the fourth quarter. Ignite Planners LLC now owns 9,992 shares of the pipeline company’s stock worth $282,000 after buying an additional 372 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in shares of Kinder Morgan by 8.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 5,182 shares of the pipeline company’s stock worth $142,000 after buying an additional 385 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Kinder Morgan by 0.5% in the third quarter. Sunbelt Securities Inc. now owns 90,560 shares of the pipeline company’s stock worth $2,000,000 after buying an additional 414 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Down 0.2 %

Shares of KMI stock opened at $27.53 on Wednesday. The stock has a market cap of $61.16 billion, a P/E ratio of 23.53, a P/E/G ratio of 3.12 and a beta of 0.94. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $31.48. The company has a 50 day simple moving average of $27.96 and a two-hundred day simple moving average of $24.80. The company has a current ratio of 0.49, a quick ratio of 0.35 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. On average, research analysts expect that Kinder Morgan, Inc. will post 1.28 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a $0.2875 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.18%. Kinder Morgan’s payout ratio is currently 98.29%.

Insiders Place Their Bets

In related news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total transaction of $502,380.00. Following the completion of the transaction, the president now owns 861,652 shares in the company, valued at approximately $24,048,707.32. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KMI. Mizuho upped their target price on shares of Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Scotiabank started coverage on shares of Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Finally, Truist Financial boosted their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.14.

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.