State of New Jersey Common Pension Fund D Has $14.25 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

State of New Jersey Common Pension Fund D reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 32.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 717,197 shares of the pipeline company’s stock after selling 352,035 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kinder Morgan were worth $14,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. Oregon Public Employees Retirement Fund raised its stake in Kinder Morgan by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after purchasing an additional 530 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Kinder Morgan by 1.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after buying an additional 545 shares during the period. Newman Dignan & Sheerar Inc. raised its stake in shares of Kinder Morgan by 4.3% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock valued at $242,000 after buying an additional 547 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Kinder Morgan by 4.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock worth $267,000 after acquiring an additional 566 shares during the period. Finally, Simplicity Wealth LLC increased its stake in Kinder Morgan by 2.2% in the second quarter. Simplicity Wealth LLC now owns 27,478 shares of the pipeline company’s stock valued at $546,000 after acquiring an additional 586 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling

In other news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock valued at $3,121,891 over the last three months. Company insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

KMI stock opened at $21.14 on Friday. The company has a 50 day moving average price of $21.01 and a 200 day moving average price of $19.57. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $21.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The stock has a market capitalization of $46.92 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Scotiabank boosted their price target on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Barclays increased their price objective on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.40.

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.