Bessemer Group Inc. Acquires 1,055,255 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Bessemer Group Inc. increased its Kinder Morgan stake by 18.5% in the first quarter, buying 1,055,255 additional shares and bringing its total holding to 6,751,400 shares worth about $226.4 million.
• Insider selling continued at Kinder Morgan, with executives including VP John W. Schlosser and VP Michael P. Garthwaite making recent stock sales. Over the last three months, insiders sold 21,598 shares worth $693,689.
• Kinder Morgan reported better-than-expected quarterly results, with EPS of $0.48 versus $0.38 expected and revenue of $4.83 billion, while also raising its quarterly dividend to $0.2975 per share for a 3.7% annualized yield.

Bessemer Group Inc. lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,751,400 shares of the pipeline company's stock after purchasing an additional 1,055,255 shares during the period. Bessemer Group Inc. owned about 0.30% of Kinder Morgan worth $226,375,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in Kinder Morgan in the fourth quarter worth $27,000. Commonwealth Retirement Investments LLC bought a new position in shares of Kinder Morgan during the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $28,000. Acumen Wealth Advisors LLC purchased a new position in shares of Kinder Morgan in the fourth quarter worth about $28,000. Finally, Dorato Capital Management purchased a new position in shares of Kinder Morgan in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction 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 completion of the sale, the vice president owned 176,540 shares of the company's stock, valued at $5,721,661.40. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president owned 41,743 shares in the company, valued at approximately $1,312,399.92. This trade represents a 3.58% decrease in their position. 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 21,598 shares of company stock worth $693,689 over the last three months. Insiders own 12.72% of the company's stock.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $32.51 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average of $32.27 and a 200-day moving average of $31.65. The firm has a market cap of $72.32 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.68 and a beta of 0.54. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The company had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.55 billion. During the same period last year, the firm earned $0.34 earnings per share. Kinder Morgan's quarterly revenue was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a $0.2975 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's dividend payout ratio is 79.87%.

Wall Street Analysts Forecast Growth

KMI has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on Kinder Morgan from $32.00 to $35.00 and gave the company a "sector perform" rating in a report on Monday, March 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Wolfe Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Scotiabank increased their price objective on Kinder Morgan from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, March 26th. Finally, UBS Group restated a "buy" rating and issued a $43.00 target price on shares of Kinder Morgan in a report on Monday, June 15th. Eight investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Kinder Morgan has an average rating of "Hold" and an average target price of $34.71.

Kinder Morgan 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.