Cetera Investment Advisers Grows Stake in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Cetera Investment Advisers increased its stake in Kinder Morgan, Inc. by 9.3% during Q1, now holding over 1.65 million shares valued at approximately $47.1 million.
• Multiple brokerages have recently raised price targets for Kinder Morgan, with Wells Fargo increasing it to $34.00 and maintaining an "overweight" rating.
• Kinder Morgan announced a quarterly dividend of $0.2925, reflecting a 4.27% yield, set to be paid on August 15, 2023.

Cetera Investment Advisers raised its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,652,466 shares of the pipeline company's stock after acquiring an additional 140,014 shares during the quarter. Cetera Investment Advisers owned approximately 0.07% of Kinder Morgan worth $47,145,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KMI. Bridgewealth Advisory Group LLC bought a new stake in shares of Kinder Morgan in the 4th quarter valued at about $377,000. Unigestion Holding SA lifted its stake in shares of Kinder Morgan by 22.3% in the fourth quarter. Unigestion Holding SA now owns 93,364 shares of the pipeline company's stock worth $2,558,000 after acquiring an additional 16,993 shares during the period. Burney Co. lifted its stake in shares of Kinder Morgan by 133.5% in the first quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after acquiring an additional 252,736 shares during the period. AdvisorNet Financial Inc boosted its holdings in Kinder Morgan by 402.5% in the first quarter. AdvisorNet Financial Inc now owns 39,393 shares of the pipeline company's stock valued at $1,124,000 after acquiring an additional 31,553 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Kinder Morgan by 3.8% during the 4th quarter. American Century Companies Inc. now owns 369,451 shares of the pipeline company's stock valued at $10,123,000 after purchasing an additional 13,367 shares during the period. Institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Up 0.4%

Shares of Kinder Morgan stock traded up $0.11 during trading hours on Wednesday, reaching $27.99. The company's stock had a trading volume of 3,735,868 shares, compared to its average volume of 14,325,153. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The stock's fifty day simple moving average is $27.93 and its two-hundred day simple moving average is $27.56. The company has a market capitalization of $62.18 billion, a P/E ratio of 22.93, a P/E/G ratio of 3.45 and a beta of 0.75. Kinder Morgan, Inc. has a one year low of $19.68 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.18%. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report on Friday, July 25th. Royal Bank Of Canada boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Tuesday, April 29th. TD Cowen initiated coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price target on the stock. Cowen began coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Barclays reissued an "overweight" rating and issued a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of "Moderate Buy" and an average target price of $31.13.

Insiders Place Their Bets

In other news, Director Amy W. Chronis purchased 2,759 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the acquisition, the director owned 34,764 shares in the company, valued at $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total value of $508,680.00. Following the sale, the president directly owned 771,652 shares of the company's stock, valued at $21,806,885.52. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.