Royal Bank of Canada Sells 1,026,645 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Royal Bank of Canada cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,226,736 shares of the pipeline company’s stock after selling 1,026,645 shares during the quarter. Royal Bank of Canada owned approximately 0.37% of Kinder Morgan worth $225,412,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kinder Morgan by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 202,846,078 shares of the pipeline company’s stock worth $5,557,983,000 after purchasing an additional 1,469,759 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kinder Morgan by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company’s stock worth $1,414,813,000 after purchasing an additional 1,252,609 shares in the last quarter. Norges Bank bought a new position in Kinder Morgan in the fourth quarter worth about $917,523,000. Northern Trust Corp grew its stake in shares of Kinder Morgan by 8.3% during the fourth quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company’s stock worth $573,834,000 after acquiring an additional 1,608,499 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Kinder Morgan by 16.8% during the fourth quarter. Deutsche Bank AG now owns 14,711,722 shares of the pipeline company’s stock worth $403,101,000 after acquiring an additional 2,116,576 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $28.09 on Friday. The business’s 50 day moving average price is $27.15 and its 200 day moving average price is $27.30. The firm has a market cap of $62.41 billion, a P/E ratio of 24.01, a P/E/G ratio of 3.08 and a beta of 0.74. Kinder Morgan, Inc. has a 52 week low of $18.83 and a 52 week high of $31.48. 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 (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, April 30th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is currently 100.86%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Mizuho boosted their price target on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company restated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. Truist Financial boosted their price target on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada boosted their price target on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. Seven 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.79.

Insiders Place Their Bets

In other Kinder Morgan news, VP John W. Schlosser sold 75,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total value of $2,011,035.65. Following the sale, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This represents a 25.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the completion of the sale, the president now owns 825,652 shares in the company, valued at approximately $21,970,599.72. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,461 shares of company stock worth $3,503,776. Corporate insiders own 12.73% of the company’s stock.

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.