Retirement Systems of Alabama Sells 17,271 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Retirement Systems of Alabama trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,659,402 shares of the pipeline company’s stock after selling 17,271 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of Kinder Morgan worth $47,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KMI. Brighton Jones LLC acquired a new stake in Kinder Morgan in the 4th quarter valued at about $308,000. Principal Securities Inc. grew its stake in shares of Kinder Morgan by 9.7% during the fourth quarter. Principal Securities Inc. now owns 16,420 shares of the pipeline company’s stock valued at $450,000 after purchasing an additional 1,447 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $202,000. Venturi Wealth Management LLC raised its position in Kinder Morgan by 5.8% in the 4th quarter. Venturi Wealth Management LLC now owns 12,392 shares of the pipeline company’s stock worth $340,000 after purchasing an additional 683 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in Kinder Morgan by 10.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 184,779 shares of the pipeline company’s stock worth $5,063,000 after buying an additional 18,078 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In other news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $27.57, for a total transaction of $496,260.00. Following the transaction, the president now owns 789,652 shares in the company, valued at approximately $21,770,705.64. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 54,000 shares of company stock valued at $1,522,440 in the last quarter. 12.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Barclays upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research report on Monday, March 3rd. Royal Bank Of Canada raised their price target on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 29th. Stifel Nicolaus lifted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Finally, Scotiabank raised their target price on Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.21.

Kinder Morgan Price Performance

KMI stock opened at $27.57 on Friday. The company has a market capitalization of $61.25 billion, a P/E ratio of 23.76, a PEG ratio of 3.03 and a beta of 0.74. The company has a fifty day moving average price of $27.41 and a 200-day moving average price of $27.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.45. Kinder Morgan, Inc. has a 52-week low of $19.47 and a 52-week high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.24%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, April 30th. Kinder Morgan’s dividend payout ratio is presently 100.86%.

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.