Premier Fund Managers Ltd Acquires New Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Premier Fund Managers Ltd bought a new position in Kinder Morgan, Inc. (NYSE:KMI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 102,500 shares of the pipeline company’s stock, valued at approximately $2,804,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 202,846,078 shares of the pipeline company’s stock worth $5,557,983,000 after acquiring an additional 1,469,759 shares in the last quarter. Norges Bank acquired a new position in shares of Kinder Morgan during the fourth quarter worth $917,523,000. Bank of New York Mellon Corp lifted its holdings in shares of Kinder Morgan by 8.6% during the 4th 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 purchasing an additional 1,093,242 shares during the last quarter. Amundi boosted its position in shares of Kinder Morgan by 28.9% in the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock worth $334,381,000 after purchasing an additional 2,650,040 shares in the last quarter. Finally, Barclays PLC grew its stake in Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after buying an additional 2,334,273 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

NYSE:KMI opened at $28.24 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The company has a 50 day moving average price of $27.51 and a 200-day moving average price of $26.29. Kinder Morgan, Inc. has a 1-year low of $17.61 and a 1-year high of $31.48. The firm has a market cap of $62.75 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s payout ratio is 98.29%.

Insider Activity

In related news, VP John W. Schlosser sold 75,461 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the completion of the transaction, the vice president now owns 220,681 shares in the company, valued at $5,881,148.65. This represents a 25.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the completion of the sale, the president now owns 825,652 shares in the company, valued at approximately $21,970,599.72. The trade was a 2.13 % 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 worth $3,490,996 in the last quarter. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Monday, March 3rd. Truist Financial upped their price target on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. UBS Group boosted their price objective on shares of Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.64.

Kinder Morgan 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.