Principal Financial Group Inc. Has $37.20 Million Position in Kinder Morgan, Inc. (NYSE:KMI)

Principal Financial Group Inc. decreased its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,108,831 shares of the pipeline company's stock after selling 60,202 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of Kinder Morgan worth $37,200,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KMI. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Kinder Morgan during the third quarter valued at about $99,908,000. Invesco Ltd. grew its stake in Kinder Morgan by 29.4% during the 3rd quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company's stock valued at $355,451,000 after purchasing an additional 4,870,444 shares in the last quarter. Bank of Nova Scotia increased its holdings in Kinder Morgan by 2,463.8% during the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company's stock worth $73,678,000 after purchasing an additional 4,270,461 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Kinder Morgan by 1,121.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company's stock valued at $65,750,000 after purchasing an additional 3,640,939 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Kinder Morgan by 68.6% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,696,090 shares of the pipeline company's stock valued at $94,441,000 after buying an additional 2,317,197 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KMI has been the subject of several research analyst reports. Truist Financial reissued a "hold" rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com lowered Kinder Morgan from a "buy" rating to a "hold" rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.20.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.10 during trading on Friday, reaching $19.70. 12,152,839 shares of the company's stock traded hands, compared to its average volume of 13,475,619. 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 50 day moving average of $18.43 and a 200-day moving average of $17.70. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $19.79. The stock has a market capitalization of $43.72 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 5.47 and a beta of 0.89.

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, 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 for the quarter, compared to analysts' expectations of $4.36 billion. During the same period in the prior year, the firm earned $0.30 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan, Inc. will post 1.2 EPS for the current year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.2875 per share. This is an increase from Kinder Morgan's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.15 annualized dividend and a dividend yield of 5.84%. Kinder Morgan's payout ratio is 104.55%.

Insider Buying and Selling

In other news, Director Michael C. Morgan sold 230,000 shares of the business's stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the transaction, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.64% of the company's stock.

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.