Cadence Bank Raises Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Cadence Bank lifted its stake in Kinder Morgan, Inc. (NYSE:KMI) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 590,212 shares of the pipeline company’s stock after acquiring an additional 10,011 shares during the quarter. Kinder Morgan comprises approximately 0.9% of Cadence Bank’s portfolio, making the stock its 21st largest position. Cadence Bank’s holdings in Kinder Morgan were worth $13,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KMI. Avestar Capital LLC raised its holdings in Kinder Morgan by 6.5% in the third quarter. Avestar Capital LLC now owns 11,716 shares of the pipeline company’s stock valued at $259,000 after acquiring an additional 714 shares in the last quarter. Brooklyn Investment Group acquired a new position in Kinder Morgan in the third quarter worth about $170,000. Partners Group Holding AG increased its holdings in Kinder Morgan by 2,170.6% in the third quarter. Partners Group Holding AG now owns 287,777 shares of the pipeline company’s stock valued at $6,357,000 after buying an additional 275,103 shares during the last quarter. D.A. Davidson & CO. raised its stake in Kinder Morgan by 3.8% during the third quarter. D.A. Davidson & CO. now owns 605,156 shares of the pipeline company’s stock valued at $13,368,000 after buying an additional 22,303 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Kinder Morgan by 2.2% in the 3rd quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock valued at $163,116,000 after acquiring an additional 164,152 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In related news, Director C Park Shaper sold 690,142 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy W. Chronis acquired 2,241 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.81% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $28.09 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The firm has a market cap of $62.39 billion, a P/E ratio of 24.64, a PEG ratio of 4.01 and a beta of 0.91. The stock has a fifty day moving average price of $24.82 and a two-hundred day moving average price of $21.97. Kinder Morgan, Inc. has a 1 year low of $16.47 and a 1 year high of $28.81.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Kinder Morgan’s revenue was down 5.3% compared to the same quarter last year. Research analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.09%. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.88%.

Analyst Ratings Changes

Several analysts have weighed in on KMI shares. Truist Financial boosted their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus upped their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. UBS Group raised their price target on Kinder Morgan from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company upped their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

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.