First Citizens Bank & Trust Co. Purchases 41,902 Shares of Kinder Morgan, Inc. $KMI

Key Points

• First Citizens Bank & Trust Co. increased its stake in Kinder Morgan by 8.5%, acquiring an additional 41,902 shares, bringing its total holdings to 535,421 shares valued at approximately $15.74 million.
• Kinder Morgan reported quarterly earnings of $0.29 per share, matching analyst expectations, alongside revenue of $4.15 billion, which surpassed consensus estimates of $3.98 billion.
• The company declared a quarterly dividend of $0.2925, set to be paid on November 17th, providing an annualized dividend yield of 4.2% with a payout ratio of 95.90%.

First Citizens Bank & Trust Co. raised its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 535,421 shares of the pipeline company's stock after buying an additional 41,902 shares during the period. First Citizens Bank & Trust Co.'s holdings in Kinder Morgan were worth $15,741,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KMI. Brighton Jones LLC bought a new position in Kinder Morgan during the 4th quarter worth $308,000. GAMMA Investing LLC increased its holdings in shares of Kinder Morgan by 9.3% during the first quarter. GAMMA Investing LLC now owns 35,186 shares of the pipeline company's stock worth $1,004,000 after purchasing an additional 3,003 shares during the period. Continuum Advisory LLC boosted its stake in shares of Kinder Morgan by 12.1% in the first quarter. Continuum Advisory LLC now owns 10,597 shares of the pipeline company's stock valued at $302,000 after buying an additional 1,143 shares during the period. Oppenheimer Asset Management Inc. grew its position in Kinder Morgan by 21.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 109,874 shares of the pipeline company's stock worth $3,135,000 after buying an additional 19,775 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Kinder Morgan by 9.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 996,681 shares of the pipeline company's stock valued at $28,435,000 after acquiring an additional 84,771 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Stock Performance

Shares of KMI opened at $27.58 on Thursday. The stock has a 50-day moving average of $27.30 and a 200-day moving average of $27.42. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48. The company has a market cap of $61.27 billion, a PE ratio of 22.60, a P/E/G ratio of 3.23 and a beta of 0.78. 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 data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.98 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a $0.2925 dividend. The ex-dividend date is Monday, November 3rd. This represents a $1.17 annualized dividend and a yield of 4.2%. Kinder Morgan's dividend payout ratio (DPR) is 95.90%.

Insider Activity

In other Kinder Morgan news, Director Amy W. Chronis bought 2,759 shares of the stock in a transaction dated Monday, July 28th. The shares were bought at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the purchase, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. This trade represents a 8.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the stock in a transaction dated Friday, August 1st. The shares were 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. Over the last 90 days, insiders have sold 134,174 shares of company stock worth $3,727,678. Corporate insiders own 12.73% of the company's stock.

Analyst Ratings Changes

KMI has been the subject of a number of research analyst reports. Scotiabank lowered their price target on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Jefferies Financial Group started coverage on shares of Kinder Morgan in a research note on Thursday, October 9th. They issued a "hold" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. TD Cowen initiated coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price objective on the stock. Finally, BMO Capital Markets began coverage on Kinder Morgan in a research report on Friday, September 19th. They set an "outperform" rating and a $32.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Kinder Morgan has an average rating of "Moderate Buy" and a consensus target price of $31.13.

Kinder Morgan Company 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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI - Free Report).

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.