Assenagon Asset Management S.A. Buys 2,695,654 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Assenagon Asset Management increased its Kinder Morgan stake by 220.9% in the second quarter, buying 2.7 million additional shares and bringing its holdings to 3.92 million shares worth approximately $125.2 million.
• Analyst sentiment remains mixed, with eight Buy ratings and ten Hold ratings. Kinder Morgan has an average rating of Hold and an average price target of $35.50.
• Kinder Morgan exceeded quarterly expectations, reporting $0.37 in EPS versus a $0.31 estimate and $4.48 billion in revenue. The company also declared a quarterly dividend of $0.2975 per share, equivalent to a 3.8% annualized yield.

Assenagon Asset Management S.A. boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 220.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,915,696 shares of the pipeline company's stock after purchasing an additional 2,695,654 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Kinder Morgan worth $125,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 55 North Private Wealth LLC boosted its holdings in shares of Kinder Morgan by 9.7% during the 2nd quarter. 55 North Private Wealth LLC now owns 7,485 shares of the pipeline company's stock worth $239,000 after buying an additional 664 shares during the period. Evanson Financial LLC bought a new position in Kinder Morgan in the 2nd quarter worth $490,000. Post Resch Tallon Group Inc. acquired a new position in Kinder Morgan during the 2nd quarter worth $559,000. Foster Group Inc. lifted its position in Kinder Morgan by 8.9% during the 2nd quarter. Foster Group Inc. now owns 6,951 shares of the pipeline company's stock worth $222,000 after acquiring an additional 566 shares during the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in Kinder Morgan by 0.4% during the second quarter. Mirador Capital Partners LP now owns 340,265 shares of the pipeline company's stock valued at $10,878,000 after acquiring an additional 1,230 shares during the period. Institutional investors and hedge funds own 62.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Kinder Morgan from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Citigroup reissued a "neutral" rating on shares of Kinder Morgan in a research report on Wednesday, July 29th. Weiss Ratings downgraded Kinder Morgan from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, June 23rd. Morgan Stanley set a $38.00 target price on Kinder Morgan in a report on Wednesday, July 29th. Finally, Wolfe Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan has an average rating of "Hold" and an average target price of $35.50.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the transaction, the vice president owned 41,743 shares of the company's stock, valued at $1,312,399.92. This represents a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.83, for a total value of $196,263.78. Following the completion of the sale, the vice president owned 170,374 shares of the company's stock, valued at $5,423,004.42. This represents a 3.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 15,432 shares of company stock valued at $493,849. Insiders own 12.72% of the company's stock.

Kinder Morgan Stock Performance

NYSE KMI opened at $31.27 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.52 and a beta of 0.54. The company's fifty day moving average is $31.94 and its two-hundred day moving average is $32.14. Kinder Morgan, Inc. has a 52-week low of $25.60 and a 52-week high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Kinder Morgan had a net margin of 19.31% and a return on equity of 10.46%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The business's revenue was up 10.8% compared to the same quarter last year. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.54 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be paid a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 3rd. Kinder Morgan's payout ratio is currently 76.28%.

About Kinder Morgan

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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