Envestnet Portfolio Solutions Inc. Purchases 62,430 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Envestnet Portfolio Solutions Inc. lifted its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 257,880 shares of the pipeline company's stock after purchasing an additional 62,430 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Kinder Morgan were worth $4,549,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Kinder Morgan during the fourth quarter worth about $26,000. Tucker Asset Management LLC bought a new stake in shares of Kinder Morgan in the 3rd quarter worth approximately $25,000. Activest Wealth Management purchased a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. bought a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Kinder Morgan in the third quarter worth $33,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Up 1.4 %

Shares of NYSE KMI traded up $0.26 during trading on Tuesday, reaching $19.41. The company had a trading volume of 14,540,250 shares, compared to its average volume of 14,023,832. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $19.45. The business's 50-day moving average is $18.29 and its 200 day moving average is $17.61. The stock has a market cap of $43.08 billion, a PE ratio of 17.59, a P/E/G ratio of 5.37 and a beta of 0.89. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.2875 dividend. The ex-dividend date is Monday, April 29th. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.92%. Kinder Morgan's payout ratio is currently 104.55%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the 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 directly owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Kinder Morgan from a "buy" rating to a "hold" rating in a research report on Friday, March 1st. Truist Financial restated 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.