The Manufacturers Life Insurance Company reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 18.1% during the fourth quarter, according to its latest SEC filing. The firm now owns 3,344,886 shares of the pipeline company’s stock, valued at $91,650,000, representing approximately 0.15% of Kinder Morgan’s total shares.
Other institutional investors have also adjusted their positions in KMI. Xponance Inc. increased its stake by 5.2%, now owning 303,044 shares valued at $8,303,000. Principal Financial Group Inc. boosted its holding by 3.2% during the third quarter, now owning 2,291,704 shares worth $50,624,000. Golden State Equity Partners grew its holdings by 2,507.9%, now owning 16,430 shares valued at $450,000. Royal London Asset Management Ltd. increased its position by 2.0%, now owning 2,265,044 shares worth $62,062,000. Barclays PLC raised its stake by 39.9% during the third quarter, now owning 8,186,207 shares valued at $180,833,000.
Institutional investors and hedge funds collectively own 62.52% of Kinder Morgan’s stock. Company insiders own 12.73% of the shares. Recent insider transactions include President Thomas A. Martin selling 18,000 shares and VP John W. Schlosser selling 75,461 shares.
Analyst ratings for Kinder Morgan are mixed, with seven equities research analysts rating the stock as ‘hold’, seven as ‘buy’, and one as ‘strong buy’. The consensus rating is ‘Moderate Buy’ with a target price of $29.71. Kinder Morgan recently announced a quarterly dividend of $0.2925, representing a 4.30% dividend yield.
Kinder Morgan’s stock performance has been notable, with a 1-year low of $18.13 and a 1-year high of $31.48. The company reported earnings per share of $0.34 for the latest quarter, meeting consensus estimates. Revenue for the quarter was $4.24 billion, exceeding the consensus estimate of $4.02 billion.
