1832 Asset Management L.P. Acquires 37,685 Shares of Kinder Morgan, Inc. $KMI

Key Points

• 1832 Asset Management L.P. increased its holding in Kinder Morgan, Inc. by 37.0% during the first quarter, acquiring an additional 37,685 shares, bringing their total to 139,466 shares valued at approximately $3.98 million.
• President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock for a total of $508,680, which represents a 2.28% decrease in his ownership.
• Several brokerages have rated Kinder Morgan with a Moderate Buy, with an average target price of $31.20 per share after recent performance reviews.

1832 Asset Management L.P. increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 37.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,466 shares of the pipeline company's stock after purchasing an additional 37,685 shares during the period. 1832 Asset Management L.P.'s holdings in Kinder Morgan were worth $3,979,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Kinder Morgan by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company's stock worth $5,824,367,000 after buying an additional 1,302,794 shares during the period. Northern Trust Corp boosted its stake in Kinder Morgan by 8.3% during the fourth quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company's stock worth $573,834,000 after acquiring an additional 1,608,499 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock worth $578,628,000 after purchasing an additional 5,529,065 shares during the period. Deutsche Bank AG increased its stake in Kinder Morgan by 2.0% in the first quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company's stock valued at $428,018,000 after purchasing an additional 290,653 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Kinder Morgan by 5.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,786,581 shares of the pipeline company's stock valued at $307,741,000 after purchasing an additional 553,395 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the sale, the president owned 771,652 shares in the company, valued at $21,806,885.52. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sital K. Mody sold 45,549 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The disclosure for this sale can be found here. Insiders have sold 139,842 shares of company stock valued at $3,896,180 in the last quarter. 12.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KMI. TD Cowen initiated coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Morgan Stanley set a $34.00 target price on Kinder Morgan in a report on Monday, July 7th. Barclays reaffirmed an "overweight" rating and set a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Friday, July 25th. Finally, Stifel Nicolaus raised their price objective on Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Kinder Morgan currently has an average rating of "Moderate Buy" and an average target price of $31.20.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $26.6680 on Monday. The business's fifty day simple moving average is $27.64 and its 200 day simple moving average is $27.33. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a 12 month low of $20.56 and a 12 month high of $31.48. The firm has a market capitalization of $59.26 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The business's revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.4%. Kinder Morgan's payout ratio is currently 95.90%.

Kinder Morgan Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.