Hennessy Advisors Inc. Decreases Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Hennessy Advisors Inc. reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 7.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,310,991 shares of the pipeline company’s stock after selling 105,400 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.06% of Kinder Morgan worth $24,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Independent Advisor Alliance boosted its holdings in shares of Kinder Morgan by 13.8% in the fourth quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock worth $1,148,000 after acquiring an additional 7,912 shares during the period. Gotham Asset Management LLC lifted its stake in Kinder Morgan by 11.3% during the third quarter. Gotham Asset Management LLC now owns 533,348 shares of the pipeline company’s stock worth $8,843,000 after purchasing an additional 54,184 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in Kinder Morgan during the fourth quarter worth about $2,101,000. Teza Capital Management LLC lifted its stake in Kinder Morgan by 190.9% during the third quarter. Teza Capital Management LLC now owns 527,280 shares of the pipeline company’s stock worth $8,742,000 after purchasing an additional 346,000 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its holdings in shares of Kinder Morgan by 285.7% in the fourth quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock worth $19,051,000 after buying an additional 800,000 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KMI. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reiterated a “hold” rating and set a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Finally, UBS Group boosted their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.04 during midday trading on Friday, hitting $19.80. The company had a trading volume of 5,653,555 shares, compared to its average volume of 13,451,328. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $20.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.38. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 3.12 and a beta of 0.92. The company has a fifty day moving average of $19.27 and a two-hundred day moving average of $18.19.

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

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio is 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

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.