Kinder Morgan (NYSE:KMI) Shares Down 1.3% – Here’s What Happened

Shares of Kinder Morgan, Inc. (NYSE:KMI) dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $26.39 and last traded at $26.72. Approximately 4,544,287 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 15,750,667 shares. The stock had previously closed at $27.07.

Analysts Set New Price Targets

KMI has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Truist Financial lifted their price target on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Mizuho upped their target price on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Scotiabank assumed coverage on shares of Kinder Morgan in a research note on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target on the stock. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Kinder Morgan Price Performance

The firm has a market capitalization of $59.26 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 3.16 and a beta of 0.94. The stock’s 50-day moving average price is $27.89 and its 200 day moving average price is $25.01. The company has a quick ratio of 0.35, a current ratio of 0.49 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI) last released its 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%. Equities research analysts expect that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s dividend payout ratio (DPR) is presently 98.29%.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total value of $492,120.00. Following the sale, the president now owns 879,652 shares of the company’s stock, valued at $24,049,685.68. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 54,000 shares of company stock valued at $1,493,100. 12.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinder Morgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMI. Retirement Wealth Solutions LLC purchased a new position in Kinder Morgan in the fourth quarter worth approximately $25,000. Centricity Wealth Management LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter worth $25,000. Modus Advisors LLC acquired a new position in shares of Kinder Morgan during the fourth quarter worth $27,000. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan in the third quarter valued at $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 62.52% 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.