5 Best Dividend Stocks to Buy According to Kenneth A. Moffet’s Hourglass Capital

1. Kinder Morgan, Inc. (NYSE:KMI)

Number of Hedge Fund Holders: 40
Dividend Yield as of June 2: 5.59%
Hourglass Capital’s Stake Value: $5,549,000

Kinder Morgan, Inc. (NYSE:KMI) is an American energy infrastructure company that specializes in controlling oil and gas pipeline terminals. In Q1 2022, the company reported a 2% growth in natural gas transport volumes, compared to the first quarter of 2021. Moreover, Kinder Morgan, Inc. (NYSE:KMI) also reported a 12% year-over-year growth in its natural gas gathering volumes.

In May, Truist initiated its coverage on Kinder Morgan, Inc. (NYSE:KMI), with a Buy rating and a $22 price target. On April 20, the company announced a 3% hike in its quarterly dividend to $0.2775 per share. This was the company’s 5^th consecutive year of dividend growth. As of June 2, the stock’s dividend yield came in at 5.59%.

At the end of Q1 2022, Hourglass Capital held stakes worth roughly $5.6 million in Kinder Morgan, Inc. (NYSE:KMI), which represented 1.73% of Kenneth A. Moffet’s portfolio. The hedge fund increased its position in the company by 34% during the quarter.

As per Insider Monkey’s Q1 2022 database, 40 hedge funds held stakes in Kinder Morgan, Inc. (NYSE:KMI), up from 39 in the previous quarter. The consolidated value of these stakes is over $1.34 billion. FPR Partners held the largest stake in the Texas-based company in Q1 2022, with shares worth over $307.3 million.

You can also take a look at 10 Value Stocks Hedge Funds Like in 2022 and Oil Price Predictions for 2022 and 10 Stocks to Watch

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