Fifth Third Wealth Advisors LLC Acquires 10,695 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Kinder Morgan, Inc. by 17.9%, acquiring an additional 10,695 shares to hold a total of 70,420 shares valued at approximately $2.07 million.
• Kinder Morgan reported a quarterly earnings per share (EPS) of $0.28, in line with analysts' expectations, and revenue of $4.04 billion, exceeding expectations of $3.75 billion.
• The company's stock currently has a market cap of $60.25 billion and is experiencing a 1.5% decline with an annual dividend yield of 4.3% announced recently.

Fifth Third Wealth Advisors LLC boosted its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,420 shares of the pipeline company's stock after purchasing an additional 10,695 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Kinder Morgan were worth $2,070,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new position in Kinder Morgan in the second quarter worth about $161,000. Applied Capital LLC FL boosted its position in Kinder Morgan by 17.2% in the second quarter. Applied Capital LLC FL now owns 14,954 shares of the pipeline company's stock worth $440,000 after purchasing an additional 2,193 shares during the last quarter. Inspire Investing LLC boosted its position in Kinder Morgan by 46.6% in the second quarter. Inspire Investing LLC now owns 301,908 shares of the pipeline company's stock worth $8,876,000 after purchasing an additional 95,978 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its position in Kinder Morgan by 352.2% in the second quarter. Drucker Wealth 3.0 LLC now owns 33,783 shares of the pipeline company's stock worth $939,000 after purchasing an additional 26,313 shares during the last quarter. Finally, Eastern Bank boosted its position in Kinder Morgan by 35.3% in the second quarter. Eastern Bank now owns 219,903 shares of the pipeline company's stock worth $6,465,000 after purchasing an additional 57,416 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Down 1.5%

NYSE KMI opened at $27.12 on Friday. The stock's 50 day moving average is $27.26 and its 200 day moving average is $27.44. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a 12 month low of $23.86 and a 12 month high of $31.48. The stock has a market cap of $60.25 billion, a PE ratio of 22.23, a P/E/G ratio of 3.19 and a beta of 0.78.

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

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date of this dividend 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 currently 95.90%.

Insider Buying and Selling

In other Kinder Morgan news, Director Amy W. Chronis purchased 2,759 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average cost of $27.21 per share, with a total value of $75,072.39. Following the acquisition, the director owned 34,764 shares in the company, valued at approximately $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dax Sanders sold 30,127 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president directly owned 292,000 shares in the company, valued at approximately $7,898,600. The trade was a 9.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,174 shares of company stock worth $3,727,678 in the last quarter. 12.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KMI has been the topic of several research reports. Jefferies Financial Group initiated coverage on Kinder Morgan in a research report on Thursday. They issued a "hold" rating and a $30.00 target price on the stock. Wells Fargo & Company lifted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating on the stock. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.88.

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.

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