Cadence Bank Grows Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Cadence Bank increased its holdings in Kinder Morgan, Inc. by 3.7%, acquiring a total of 606,255 shares, valued at approximately $17.3 million.
• Kinder Morgan's recent earnings report showed a quarterly EPS of $0.28, matching expectations, with revenues surpassing analyst forecasts at $4.04 billion.
• The company announced a quarterly dividend of $0.2925 per share, translating to an annualized dividend yield of 4.4%, with a high dividend payout ratio of 95.9%.

Cadence Bank lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 606,255 shares of the pipeline company's stock after acquiring an additional 21,849 shares during the quarter. Kinder Morgan accounts for 1.2% of Cadence Bank's holdings, making the stock its 17th biggest position. Cadence Bank's holdings in Kinder Morgan were worth $17,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC increased its stake in shares of Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after acquiring an additional 788 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan during the fourth quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in Kinder Morgan during the fourth quarter valued at $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan during the fourth quarter valued at $29,000. Finally, JNBA Financial Advisors grew its position in Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after buying an additional 870 shares during the period. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Price Performance

KMI traded up $0.16 on Thursday, reaching $26.99. 3,424,473 shares of the company's stock were exchanged, compared to its average volume of 14,496,597. The stock has a market cap of $59.96 billion, a PE ratio of 22.12, a P/E/G ratio of 3.37 and a beta of 0.78. Kinder Morgan, Inc. has a twelve month low of $20.56 and a twelve month high of $31.48. The stock's fifty day moving average price is $27.58 and its 200-day moving average price is $27.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared 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. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. Kinder Morgan's payout ratio is presently 95.90%.

Analysts Set New Price Targets

Several analysts recently commented on KMI shares. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. TD Cowen started coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price target on the stock. Cowen began coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating on the stock. 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. Finally, Wells Fargo & Company lifted their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Activity

In related news, VP John W. Schlosser sold 6,166 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total transaction of $171,414.80. Following the transaction, the vice president directly owned 232,034 shares in the company, valued at approximately $6,450,545.20. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the business's stock in a transaction dated Friday, August 1st. The stock was 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 139,842 shares of company stock valued at $3,896,180 in the last ninety days. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan 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.