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

Truist Financial Corp lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,747,091 shares of the pipeline company's stock after selling 19,390 shares during the period. Truist Financial Corp owned about 0.08% of Kinder Morgan worth $49,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $917,523,000. Raymond James Financial Inc. acquired a new position in shares of Kinder Morgan in the 4th quarter valued at $157,804,000. Assenagon Asset Management S.A. increased its position in shares of Kinder Morgan by 212.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after purchasing an additional 3,718,521 shares in the last quarter. Blackstone Inc. increased its position in shares of Kinder Morgan by 435.0% during the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock worth $119,416,000 after purchasing an additional 3,543,670 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Kinder Morgan in the 4th quarter valued at about $87,729,000. Institutional investors and hedge funds own 62.52% of the company's stock.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total transaction of $508,680.00. Following the completion of the sale, the president directly owned 771,652 shares in the company, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on KMI shares. Barclays reaffirmed an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a report on Monday. JPMorgan Chase & Co. boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Kinder Morgan in a research report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.40.

Kinder Morgan Price Performance

KMI traded down $0.33 during midday trading on Wednesday, hitting $27.80. 6,606,055 shares of the company traded hands, compared to its average volume of 13,969,761. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 52-week low of $19.68 and a 52-week high of $31.48. The company has a market capitalization of $61.77 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 3.11 and a beta of 0.75. The business has a 50 day simple moving average of $27.85 and a two-hundred day simple moving average of $27.57.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.02 billion. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a $0.2925 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 4.21%. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's dividend payout ratio (DPR) is presently 100.86%.

Kinder Morgan Company 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.