AQR Capital Management LLC Boosts Holdings in Kinder Morgan, Inc. $KMI

Key Points

• AQR Capital Management LLC increased its stake in Kinder Morgan, Inc. by 37.9%, acquiring 559,254 shares for a total holding worth $57.79 million.
• Kinder Morgan reported a quarterly revenue of $4.04 billion, surpassing analysts' expectations, and had an earnings per share of $0.28.
• The company recently announced a quarterly dividend of $0.2925 per share, equating to an annualized yield of 4.4%.

AQR Capital Management LLC boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,034,831 shares of the pipeline company's stock after buying an additional 559,254 shares during the quarter. AQR Capital Management LLC owned approximately 0.09% of Kinder Morgan worth $57,789,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KMI. Nuveen LLC bought a new position in Kinder Morgan during the first quarter valued at about $205,966,000. 59 North Capital Management LP bought a new position in Kinder Morgan during the first quarter valued at about $195,658,000. Goldman Sachs Group Inc. grew its position in Kinder Morgan by 37.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock valued at $578,628,000 after buying an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. grew its position in Kinder Morgan by 212.5% during the first quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock valued at $156,009,000 after buying an additional 3,718,521 shares during the period. Finally, Zimmer Partners LP bought a new position in Kinder Morgan during the fourth quarter valued at about $62,499,000. Institutional investors own 62.52% of the company's stock.

Analyst Upgrades and Downgrades

KMI has been the subject of several research reports. Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research report on Monday, July 7th. Stifel Nicolaus increased their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Finally, TD Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.20.

Insiders Place Their Bets

In related news, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value 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. This trade represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the firm's 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 disclosure for this sale can be found here. Insiders sold a total of 128,008 shares of company stock valued at $3,553,982 over the last three months. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock traded up $0.13 on Thursday, reaching $27.51. The stock had a trading volume of 6,449,635 shares, compared to its average volume of 14,393,104. Kinder Morgan, Inc. has a 1 year low of $20.72 and a 1 year high of $31.48. The company has a market cap of $61.12 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The business's 50 day moving average is $27.25 and its two-hundred day moving average is $27.33.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. 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, research analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

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