FORA Capital LLC Invests $6.81 Million in Kinder Morgan, Inc. $KMI

Key Points

• FORA Capital LLC has acquired 238,842 shares of Kinder Morgan, Inc. valued at approximately $6.8 million, making it the 29th largest holding for the fund.
• Kinder Morgan reported a 13.2% year-over-year increase in revenue, totaling $4.04 billion, with earnings per share hitting the consensus estimate of $0.28.
• The company recently declared a quarterly dividend of $0.2925 per share, resulting in a 4.4% dividend yield with a payout ratio of 95.9%.

FORA Capital LLC acquired a new position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 238,842 shares of the pipeline company's stock, valued at approximately $6,814,000. Kinder Morgan accounts for 0.7% of FORA Capital LLC's investment portfolio, making the stock its 29th largest position.

Several other large investors also recently added to or reduced their stakes in KMI. Westwood Holdings Group Inc. boosted its position in shares of Kinder Morgan by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 6,442,093 shares of the pipeline company's stock worth $183,793,000 after buying an additional 794,388 shares during the period. Bridgewealth Advisory Group LLC acquired a new position in shares of Kinder Morgan in the 4th quarter valued at about $377,000. Burney Co. lifted its position in shares of Kinder Morgan by 133.5% in the first quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after purchasing an additional 252,736 shares in the last quarter. Aberdeen Group plc grew its position in Kinder Morgan by 35.2% during the first quarter. Aberdeen Group plc now owns 2,343,165 shares of the pipeline company's stock valued at $66,581,000 after purchasing an additional 609,748 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its stake in Kinder Morgan by 402.5% in the 1st quarter. AdvisorNet Financial Inc now owns 39,393 shares of the pipeline company's stock valued at $1,124,000 after buying an additional 31,553 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research note on Friday, July 25th. Barclays reaffirmed an "overweight" rating and set a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Wells Fargo & Company boosted their price target on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Insider Activity at Kinder Morgan

In other news, EVP Dax Sanders sold 30,127 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the completion of the transaction, the executive vice president owned 292,000 shares of the company's stock, valued at approximately $7,898,600. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the sale, the president directly owned 771,652 shares in the company, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,842 shares of company stock worth $3,896,180. Insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock traded up $0.17 during trading on Thursday, reaching $27.00. The company's stock had a trading volume of 11,851,714 shares, compared to its average volume of 15,541,550. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 3.39 and a beta of 0.78. The business's fifty day moving average price is $27.57 and its 200-day moving average price is $27.32.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.28. The firm had revenue of $4.04 billion for 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 company's revenue was up 13.2% on a year-over-year basis. During the same quarter 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, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. Kinder Morgan's dividend payout ratio is 95.90%.

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.