Zurich Insurance Group Ltd FI Invests $18.05 Million in Kinder Morgan, Inc. $KMI

Key Points

• Zurich Insurance Group Ltd FI has acquired a new position in Kinder Morgan, purchasing 632,513 shares valued at approximately $18.05 million.
• Kinder Morgan reported a quarterly earnings of $0.28 EPS, meeting expectations, with revenues of $4.04 billion, surpassing analyst projections.
• The company declared a quarterly dividend of $0.2925 per share, reflecting a yield of 4.4% with a payout ratio of around 95.90%.

Zurich Insurance Group Ltd FI acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 632,513 shares of the pipeline company's stock, valued at approximately $18,046,000.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC raised its position in shares of Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after buying an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $26,000. Morse Asset Management Inc acquired a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $29,000. Finally, JNBA Financial Advisors increased its holdings in shares of Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Stifel Nicolaus lifted their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. TD Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 target price for the company. Barclays reaffirmed an "overweight" rating and set a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Finally, Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a report on Monday, July 7th. Nine equities 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 an average rating of "Moderate Buy" and a consensus target price of $31.20.

Insider Activity

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the sale, the chief financial officer directly owned 159,428 shares of the company's stock, valued at $4,494,275.32. The trade was a 20.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dax Sanders sold 30,127 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.05, for a total transaction of $814,935.35. Following the sale, the executive vice president directly owned 292,000 shares in the company, valued at $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,008 shares of company stock worth $3,553,982. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan Stock Up 0.0%

KMI traded up $0.01 during trading on Friday, hitting $27.58. The company had a trading volume of 8,664,933 shares, compared to its average volume of 11,850,534. The firm's 50-day moving average price is $27.22 and its 200 day moving average price is $27.35. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a one year low of $20.97 and a one year high of $31.48. The company has a market capitalization of $61.28 billion, a PE ratio of 22.61, a PEG ratio of 3.23 and a beta of 0.81.

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

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.2%. Kinder Morgan's payout ratio is 95.90%.

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.