6,857,982 Shares in Kinder Morgan, Inc. $KMI Purchased by 59 North Capital Management LP

Key Points

• 59 North Capital Management LP acquired 6,857,982 shares of Kinder Morgan, valued at approximately $195.7 million, making it the firm's 6th largest position.
• Several hedge funds, including Sierra Ocean LLC and JNBA Financial Advisors, significantly increased their holdings in Kinder Morgan during the first quarter, with institutional investors owning 62.52% of the stock.
• Analysts have mixed ratings for Kinder Morgan, with a consensus rating of "Moderate Buy" and a price target of $31.20, while the company has recently announced a quarterly dividend yielding 4.3%.

59 North Capital Management LP acquired a new position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,857,982 shares of the pipeline company's stock, valued at approximately $195,658,000. Kinder Morgan makes up approximately 7.0% of 59 North Capital Management LP's holdings, making the stock its 6th biggest position. 59 North Capital Management LP owned 0.31% of Kinder Morgan as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KMI. Sierra Ocean LLC grew its holdings 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 worth $25,000 after buying an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $26,000. Morse Asset Management Inc bought a new position in shares of Kinder Morgan in the fourth quarter valued at about $27,000. Heck Capital Advisors LLC bought a new position in Kinder Morgan in the 4th quarter valued at about $29,000. Finally, JNBA Financial Advisors lifted its holdings in Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after purchasing an additional 870 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KMI has been the subject of a number of recent research reports. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research report on Monday, July 7th. Cowen started coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating for the company. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Friday, July 25th. Scotiabank raised their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Finally, Stifel Nicolaus boosted their price target 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 investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Buying and Selling at Kinder Morgan

In related news, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the transaction, the vice president directly owned 232,034 shares of the company's stock, valued at approximately $6,450,545.20. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,842 shares of company stock worth $3,896,180 over the last quarter. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $26.98 on Tuesday. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. The stock has a market capitalization of $59.95 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 3.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The company's 50 day simple moving average is $27.53 and its 200 day simple moving average is $27.34.

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 for the quarter, hitting the consensus estimate of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The company's quarterly revenue 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, research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend 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.

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