Saxon Interests Inc. Takes $376,000 Position in Kinder Morgan, Inc. (NYSE:KMI)

Saxon Interests Inc. acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 21,335 shares of the pipeline company’s stock, valued at approximately $376,000.

Other hedge funds have also modified their holdings of the company. Tucker Asset Management LLC purchased a new position in Kinder Morgan in the third quarter valued at $25,000. VitalStone Financial LLC increased its holdings in Kinder Morgan by 1,451.0% in the second quarter. VitalStone Financial LLC now owns 1,551 shares of the pipeline company’s stock valued at $27,000 after buying an additional 1,451 shares during the last quarter. Hartford Financial Management Inc. purchased a new position in Kinder Morgan in the third quarter valued at $26,000. First Capital Advisors Group LLC. purchased a new position in shares of Kinder Morgan during the second quarter worth about $29,000. Finally, OFI Invest Asset Management purchased a new position in shares of Kinder Morgan during the third quarter worth about $33,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $18.00, for a total value of $135,000.00. Following the completion of the sale, the vice president now owns 3,219 shares in the company, valued at $57,942. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE KMI traded up $0.19 during midday trading on Thursday, reaching $18.34. 15,436,929 shares of the company were exchanged, compared to its average volume of 14,493,002. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.88. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $18.43. The stock has a fifty day simple moving average of $17.34 and a 200 day simple moving average of $17.21. The stock has a market cap of $40.70 billion, a P/E ratio of 17.14, a PEG ratio of 5.04 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, January 17th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the business earned $0.31 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date was Tuesday, January 30th. Kinder Morgan’s dividend payout ratio is currently 105.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and set a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Kinder Morgan has an average rating of “Hold” and a consensus price target of $20.20.

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.