Allstate Corp Purchases 81,966 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Allstate Corp more than doubled its stake in Kinder Morgan in Q4, buying 81,966 additional shares to bring its total holdings to 156,619 shares valued at about $4.3 million.
• Kinder Morgan’s stock has seen mixed analyst sentiment, with recent rating changes including a downgrade from Wolfe Research and target-price adjustments from several firms; the consensus remains Moderate Buy with a $34.20 price target.
• The company reported better-than-expected Q1 earnings, raised its quarterly dividend to $0.2975 per share, and now offers an annualized yield of about 3.6%.

Allstate Corp increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 109.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,619 shares of the pipeline company's stock after purchasing an additional 81,966 shares during the quarter. Allstate Corp's holdings in Kinder Morgan were worth $4,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KMI. Board of the Pension Protection Fund acquired a new position in Kinder Morgan during the fourth quarter worth about $27,000. Dorato Capital Management acquired a new position in Kinder Morgan during the fourth quarter worth about $30,000. Strategic Advocates LLC acquired a new position in Kinder Morgan during the third quarter worth about $32,000. Torren Management LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $32,000. Finally, Lodestone Wealth Management LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $33,000. Institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on KMI shares. Wolfe Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Mizuho boosted their target price on Kinder Morgan from $31.00 to $37.00 and gave the stock an "outperform" rating in a research note on Thursday, March 5th. Jefferies Financial Group lowered their price objective on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. Morgan Stanley upped their price objective on Kinder Morgan from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings raised Kinder Morgan from a "buy (b)" rating to a "buy (a-)" rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Insider Buying and Selling

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the sale, the vice president owned 43,293 shares of the company's stock, valued at approximately $1,456,809.45. This represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $32.41, for a total value of $199,840.06. Following the transaction, the vice president owned 176,540 shares in the company, valued at $5,721,661.40. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,148 shares of company stock valued at $763,434 in the last three months. Insiders own 12.72% of the company's stock.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $32.93 on Wednesday. The business has a 50 day moving average of $32.78 and a 200-day moving average of $30.35. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. The company has a market capitalization of $73.26 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.89 and a beta of 0.56.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.55 billion. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $0.2975 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.19 dividend on an annualized basis and a yield of 3.6%. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is currently 79.87%.

Kinder Morgan Company Profile

Kinder Morgan NYSE: KMI is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company's assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan's operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.

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