Truist Financial Corp Lowers Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Truist Financial Corp trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 11.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,492,289 shares of the pipeline company’s stock after selling 193,262 shares during the period. Truist Financial Corp’s holdings in Kinder Morgan were worth $26,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tucker Asset Management LLC purchased a new stake in shares of Kinder Morgan in the third quarter worth about $25,000. Hartford Financial Management Inc. purchased a new stake in Kinder Morgan in the third quarter valued at approximately $26,000. Activest Wealth Management purchased a new stake in Kinder Morgan in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. purchased a new stake in Kinder Morgan in the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Kinder Morgan in the third quarter valued at approximately $33,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Down 0.4 %

KMI stock opened at $18.60 on Tuesday. The company has a market capitalization of $41.28 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 5.28 and a beta of 0.90. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $18.92. The company’s 50 day moving average price is $18.01 and its two-hundred day moving average price is $17.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. As a group, analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.2875 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. This represents a $1.15 annualized dividend and a dividend yield of 6.18%. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

Insider Transactions at Kinder Morgan

In other news, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the transaction, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.81% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $20.20.

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.