IMA Wealth Inc. Cuts Position in Kinder Morgan, Inc. (NYSE:KMI)

IMA Wealth Inc. lessened its stake in Kinder Morgan, Inc. (NYSE:KMI) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 180,207 shares of the pipeline company’s stock after selling 16,202 shares during the quarter. Kinder Morgan accounts for 1.6% of IMA Wealth Inc.’s portfolio, making the stock its 20th largest position. IMA Wealth Inc.’s holdings in Kinder Morgan were worth $3,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Tucker Asset Management LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter valued at about $25,000. Hartford Financial Management Inc. acquired a new stake in shares of Kinder Morgan during the 3rd quarter worth about $26,000. Activest Wealth Management purchased a new position in shares of Kinder Morgan during the 4th quarter worth about $30,000. OFI Invest Asset Management purchased a new position in shares of Kinder Morgan during the 3rd quarter worth about $33,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Kinder Morgan during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.64% of the company’s stock.

Kinder Morgan Trading Down 0.6 %

NYSE KMI traded down $0.12 during mid-day trading on Friday, hitting $18.68. The company’s stock had a trading volume of 9,415,524 shares, compared to its average volume of 13,001,248. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $18.92. The stock’s fifty day simple moving average is $17.98 and its two-hundred day simple moving average is $17.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The firm has a market capitalization of $41.46 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 5.31 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Research analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.2875 per share. The ex-dividend date is Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.16%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KMI shares. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial restated a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.20.

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.