Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 21.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,395 shares of the pipeline company’s stock after selling 79,834 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Kinder Morgan were worth $6,371,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Kinder Morgan by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after acquiring an additional 257,658 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Kinder Morgan by 0.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock worth $233,050,000 after acquiring an additional 69,307 shares in the last quarter. First Pacific Advisors LP increased its position in shares of Kinder Morgan by 2.0% in the second quarter. First Pacific Advisors LP now owns 8,198,954 shares of the pipeline company’s stock worth $162,913,000 after acquiring an additional 163,294 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Kinder Morgan by 20.6% during the second quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock worth $154,409,000 after purchasing an additional 1,328,082 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Kinder Morgan by 2.2% during the third quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock worth $163,116,000 after purchasing an additional 164,152 shares during the period. Institutional investors and hedge funds 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 business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy W. Chronis bought 2,241 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the transaction, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. 12.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada raised their price target 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. The Goldman Sachs Group raised their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial raised their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.67.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $28.09 on Wednesday. The firm has a fifty day simple moving average of $24.82 and a 200-day simple moving average of $21.97. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81. The stock has a market capitalization of $62.39 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 4.01 and a beta of 0.91.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Kinder Morgan’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Announces Dividend

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

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.