Tocqueville Asset Management L.P. Sells 11,121 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Tocqueville Asset Management L.P. lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 248,896 shares of the pipeline company’s stock after selling 11,121 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Kinder Morgan were worth $6,820,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Kinder Morgan by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 13,734,753 shares of the pipeline company’s stock valued at $376,332,000 after buying an additional 1,093,242 shares during the last quarter. Amundi raised its stake in Kinder Morgan by 28.9% in the fourth quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock valued at $334,381,000 after buying an additional 2,650,040 shares during the last quarter. Barclays PLC raised its stake in Kinder Morgan by 39.9% in the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after buying an additional 2,334,273 shares during the last quarter. Bank of Montreal Can raised its stake in Kinder Morgan by 2.2% in the third quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock valued at $163,116,000 after buying an additional 164,152 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Kinder Morgan in the fourth quarter valued at about $157,804,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KMI. Truist Financial raised their price objective on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price objective on Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Scotiabank began coverage on Kinder Morgan in a research note on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Kinder Morgan from $24.00 to $36.00 in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.64.

Kinder Morgan Stock Down 1.0 %

Shares of KMI opened at $27.51 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 12 month low of $17.61 and a 12 month high of $31.48. The stock’s 50 day moving average is $27.59 and its two-hundred day moving average is $26.02. The firm has a market cap of $61.13 billion, a P/E ratio of 23.52, a PEG ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. Analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total value of $2,011,035.65. Following the sale, the vice president now directly owns 220,681 shares of the company’s stock, valued at $5,881,148.65. The trade was a 25.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $27.70, for a total value of $498,600.00. Following the completion of the sale, the president now directly owns 843,652 shares in the company, valued at $23,369,160.40. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock valued at $3,490,996 over the last ninety days. 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.