Eastern Bank Has $25.12 Million Stake in Kinder Morgan, Inc. $KMI

Key Points

• Eastern Bank increased its Kinder Morgan stake by 5.8% in the second quarter, bringing its holdings to 785,654 shares valued at approximately $25.12 million. Institutional investors collectively own 62.52% of KMI.
• Kinder Morgan reported quarterly EPS of $0.37, exceeding the $0.31 consensus estimate, while revenue rose 10.8% year over year to $4.48 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $35.50. The company also declared a quarterly dividend of $0.2975 per share, equal to a 3.8% annualized yield.

Eastern Bank grew its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 5.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 785,654 shares of the pipeline company's stock after purchasing an additional 43,258 shares during the period. Eastern Bank's holdings in Kinder Morgan were worth $25,117,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Klingman & Associates LLC boosted its position in shares of Kinder Morgan by 3.9% during the first quarter. Klingman & Associates LLC now owns 8,498 shares of the pipeline company's stock valued at $285,000 after buying an additional 319 shares during the last quarter. TD Capital Management LLC lifted its stake in Kinder Morgan by 36.0% during the 4th quarter. TD Capital Management LLC now owns 1,220 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 323 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Kinder Morgan by 13.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,860 shares of the pipeline company's stock valued at $79,000 after acquiring an additional 329 shares in the last quarter. Abel Hall LLC grew its stake in shares of Kinder Morgan by 4.0% in the 1st quarter. Abel Hall LLC now owns 8,588 shares of the pipeline company's stock worth $288,000 after acquiring an additional 330 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Kinder Morgan by 4.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 8,445 shares of the pipeline company's stock valued at $232,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KMI shares. UBS Group restated a "buy" rating and issued a $43.00 target price on shares of Kinder Morgan in a research note on Monday, June 15th. Wells Fargo & Company lifted their price target on Kinder Morgan from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Citigroup reissued a "neutral" rating on shares of Kinder Morgan in a research report on Wednesday, July 29th. Jefferies Financial Group restated a "hold" rating on shares of Kinder Morgan in a research note on Thursday, July 23rd. Finally, Wolfe Research lowered 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 given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $35.50.

Kinder Morgan Trading Down 2.3%

Shares of Kinder Morgan stock opened at $31.43 on Tuesday. Kinder Morgan, Inc. has a 12-month low of $25.60 and a 12-month high of $34.81. The company has a market cap of $69.99 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.60 and a beta of 0.54. The company has a current ratio of 0.46, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91. The company's 50-day moving average price is $32.01 and its 200-day moving average price is $32.06.

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

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 3rd. Kinder Morgan's dividend payout ratio (DPR) is 76.28%.

Insider Activity

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan 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 transaction, the vice president directly owned 41,743 shares of the company's stock, valued at $1,312,399.92. The trade was a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.83, for a total transaction of $196,263.78. Following the transaction, the vice president directly owned 170,374 shares of the company's stock, valued at approximately $5,423,004.42. This trade represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 15,432 shares of company stock worth $493,849. Company insiders own 12.72% of the company's stock.

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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