Envestnet Portfolio Solutions Inc. Increases Position in Kinder Morgan, Inc. $KMI

Key Points

• Envestnet Portfolio Solutions Inc. has increased its stake in Kinder Morgan, Inc. by 8.2%, owning a total of 534,765 shares worth around $15.7 million.
• Institutional investors have also shown significant interest, with firms like Sierra Ocean LLC and JNBA Financial Advisors raising their positions by over 600% in the first quarter.
• Wall Street analysts have mixed views on Kinder Morgan, with JPMorgan increasing its price target to $32.00 while maintaining a "neutral" rating, alongside multiple "buy" ratings from other firms.

Envestnet Portfolio Solutions Inc. raised its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 8.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,765 shares of the pipeline company's stock after purchasing an additional 40,305 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Kinder Morgan were worth $15,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KMI. Sierra Ocean LLC raised its position in Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 788 shares during the period. JNBA Financial Advisors raised its position in Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares during the period. Cranbrook Wealth Management LLC raised its position in Kinder Morgan by 116.1% in the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 562 shares during the period. Grove Bank & Trust grew its stake in shares of Kinder Morgan by 2,913.5% in the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock worth $32,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Kinder Morgan in the second quarter worth $34,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insider Buying and Selling

In related news, Director Amy W. Chronis acquired 2,759 shares of the firm's stock in a transaction on Monday, July 28th. The stock was bought at an average price of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the purchase, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. The trade was a 8.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the transaction, the chief financial officer owned 159,428 shares of the company's stock, valued at $4,494,275.32. This represents a 20.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,174 shares of company stock valued at $3,727,678 over the last ninety days. Company insiders own 12.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on KMI. JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Friday, July 25th. Jefferies Financial Group assumed coverage on shares of Kinder Morgan in a report on Thursday, October 9th. They set a "hold" rating and a $30.00 price target for the company. Finally, Cowen assumed coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating for the company. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.88.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $27.34 on Tuesday. 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 firm has a fifty day moving average price of $27.24 and a 200 day moving average price of $27.43. The company has a market cap of $60.74 billion, a P/E ratio of 22.41, a PEG ratio of 3.19 and a beta of 0.78. Kinder Morgan, Inc. has a 12 month low of $23.94 and a 12 month high of $31.48.

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

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio is currently 95.90%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.