Axxcess Wealth Management LLC Lowers Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Axxcess Wealth Management LLC cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 16.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 67,368 shares of the pipeline company’s stock after selling 13,745 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Kinder Morgan were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. CX Institutional grew its position in shares of Kinder Morgan by 2.3% during the fourth quarter. CX Institutional now owns 15,661 shares of the pipeline company’s stock worth $429,000 after acquiring an additional 354 shares during the last quarter. Sunflower Bank N.A. grew its position in shares of Kinder Morgan by 3.6% during the fourth quarter. Sunflower Bank N.A. now owns 10,503 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 367 shares during the last quarter. Ignite Planners LLC grew its position in shares of Kinder Morgan by 3.9% during the fourth quarter. Ignite Planners LLC now owns 9,992 shares of the pipeline company’s stock worth $282,000 after acquiring an additional 372 shares during the last quarter. Eagle Bay Advisors LLC grew its position in shares of Kinder Morgan by 8.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 5,182 shares of the pipeline company’s stock worth $142,000 after acquiring an additional 385 shares during the last quarter. Finally, Bristlecone Advisors LLC grew its position in shares of Kinder Morgan by 2.6% during the fourth quarter. Bristlecone Advisors LLC now owns 15,794 shares of the pipeline company’s stock worth $433,000 after acquiring an additional 400 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 75,461 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the completion of the transaction, the vice president now owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. The trade was a 25.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $26.61, for a total transaction of $478,980.00. Following the completion of the transaction, the president now directly owns 825,652 shares of the company’s stock, valued at $21,970,599.72. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,461 shares of company stock valued at $3,490,996 in the last 90 days. 12.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. Truist Financial lifted their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. UBS Group lifted their price objective on shares of Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Monday, March 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.64.

Kinder Morgan Trading Up 1.2 %

NYSE:KMI opened at $27.86 on Thursday. The company has a market capitalization of $61.90 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 52-week low of $17.61 and a 52-week high of $31.48. The stock has a fifty day simple moving average of $27.58 and a 200-day simple moving average of $26.04.

Kinder Morgan (NYSE:KMI) last released its quarterly 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%. On average, equities research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared 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 4.13%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan’s dividend payout ratio (DPR) is presently 98.29%.

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.