Chevy Chase Trust Holdings LLC Has $19.64 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,070,819 shares of the pipeline company’s stock after selling 9,425 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Kinder Morgan were worth $19,639,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Independent Advisor Alliance boosted its stake in shares of Kinder Morgan by 13.8% in the 4th quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock valued at $1,148,000 after purchasing an additional 7,912 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $2,101,000. Rheos Capital Works Inc. boosted its stake in shares of Kinder Morgan by 285.7% in the 4th quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock valued at $19,051,000 after purchasing an additional 800,000 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Kinder Morgan by 9.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,032,483 shares of the pipeline company’s stock valued at $18,265,000 after purchasing an additional 89,312 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $860,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group raised their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Tudor Pickering upgraded shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Truist Financial reiterated a “hold” rating and issued a $20.00 price objective (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, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Kinder Morgan Stock Performance

Kinder Morgan stock traded down $0.04 during midday trading on Thursday, reaching $20.06. The stock had a trading volume of 543,598 shares, compared to its average volume of 13,526,739. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $20.19. The firm’s 50-day moving average price is $19.52 and its 200 day moving average price is $18.36. The firm has a market capitalization of $44.52 billion, a PE ratio of 18.24, a P/E/G ratio of 3.14 and a beta of 0.93. 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) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting 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 previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts predict 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 was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a dividend yield of 5.73%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Activity

In other news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was 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 of the company’s stock, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. Company insiders own 12.81% 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.