Envestnet Portfolio Solutions Inc. raised its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 574,907 shares of the pipeline company's stock after acquiring an additional 37,922 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Kinder Morgan were worth $18,380,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of KMI. Vanguard Group Inc. grew its holdings in Kinder Morgan by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 210,281,448 shares of the pipeline company's stock worth $5,780,637,000 after purchasing an additional 2,165,130 shares during the period. State Street Corp raised its stake in Kinder Morgan by 2.2% in the fourth quarter. State Street Corp now owns 116,860,317 shares of the pipeline company's stock valued at $3,212,490,000 after buying an additional 2,510,601 shares during the period. Bank of America Corp DE lifted its position in shares of Kinder Morgan by 1.4% in the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company's stock valued at $2,079,477,000 after buying an additional 836,571 shares during the last quarter. Norges Bank acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $1,132,125,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kinder Morgan by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,104,829 shares of the pipeline company's stock worth $827,582,000 after acquiring an additional 195,088 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.
Kinder Morgan Stock Performance
KMI opened at $31.70 on Thursday. The business has a fifty day simple moving average of $31.96 and a 200 day simple moving average of $32.22. The company has a market capitalization of $70.59 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.55 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. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36.
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 for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $4.48 billion for 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 company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Research analysts expect that Kinder Morgan, Inc. will post 1.54 EPS for the current year.
Kinder Morgan Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given 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 is Monday, August 3rd. Kinder Morgan's dividend payout ratio is presently 76.28%.
Insider Buying and Selling
In related news, VP Michael P. Garthwaite sold 1,550 shares of the business'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 sale, the vice president directly owned 41,743 shares in the company, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 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 transaction, the vice president owned 170,374 shares in the company, valued at approximately $5,423,004.42. This trade represents a 3.49% decrease in their position. 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 90 days, insiders have sold 15,432 shares of company stock worth $493,849. Company insiders own 12.72% of the company's stock.
Wall Street Analyst Weigh In
KMI has been the topic of a number of recent analyst reports. Morgan Stanley set a $38.00 target price on Kinder Morgan in a report on Wednesday, July 29th. UBS Group reaffirmed a "buy" rating and set a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Wolfe Research lowered shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Kinder Morgan from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, June 23rd. Finally, Zacks Research downgraded shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $35.50.
Read Our Latest Stock Report on Kinder Morgan
About Kinder Morgan
(
Free Report)
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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