Geode Capital Management LLC Buys 82,479 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Geode Capital Management slightly increased its Kinder Morgan stake by 0.2% in the fourth quarter, adding 82,479 shares and bringing its total holding to about 53.0 million shares valued at roughly $1.45 billion.
• Kinder Morgan reported better-than-expected Q1 results, with EPS of $0.48 versus $0.38 expected and revenue of $4.83 billion, up 13.8% year over year.
• The company also raised its quarterly dividend to $0.2975 per share, while analysts currently rate the stock a consensus Moderate Buy with a target price of $34.20.

Geode Capital Management LLC grew its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,029,874 shares of the pipeline company's stock after purchasing an additional 82,479 shares during the period. Geode Capital Management LLC owned approximately 2.38% of Kinder Morgan worth $1,452,341,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of KMI. Board of the Pension Protection Fund bought a new stake in Kinder Morgan during the fourth quarter worth about $27,000. Dorato Capital Management bought a new stake in Kinder Morgan during the fourth quarter worth about $30,000. Strategic Advocates LLC bought a new stake in Kinder Morgan during the third quarter worth about $32,000. Torren Management LLC bought a new stake in Kinder Morgan during the fourth quarter worth about $32,000. Finally, Lodestone Wealth Management LLC bought a new stake in Kinder Morgan during the fourth quarter worth about $33,000. Institutional investors own 62.52% of the company's stock.

Insider Activity at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of the business's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $32.93, for a total transaction of $203,046.38. Following the completion of the transaction, the vice president directly owned 182,706 shares of the company's stock, valued at $6,016,508.58. The trade was a 3.26% decrease in their ownership of the stock. The transaction 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 Michael P. Garthwaite sold 1,550 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president directly owned 43,293 shares of the company's stock, valued at $1,456,809.45. The trade was a 3.46% 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. Insiders have sold 23,148 shares of company stock valued at $763,434 over the last three months. 12.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KMI has been the topic of several research reports. Zacks Research raised shares of Kinder Morgan from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Wolfe Research lowered shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Truist Financial initiated coverage on shares of Kinder Morgan in a research note on Tuesday, March 24th. They set a "hold" rating and a $38.00 price objective on the stock. Weiss Ratings raised shares of Kinder Morgan from a "buy (b)" rating to a "buy (a-)" rating in a research note on Monday, May 4th. Finally, Barclays reissued an "overweight" rating on shares of Kinder Morgan in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Kinder Morgan Stock Down 0.9%

KMI opened at $31.92 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average price of $32.73 and a 200-day moving average price of $30.43. Kinder Morgan, Inc. has a twelve month low of $25.60 and a twelve month high of $34.81. The stock has a market capitalization of $71.02 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.69 and a beta of 0.56.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.55 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The firm's quarterly revenue was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a dividend of $0.2975 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 annualized dividend and a dividend yield of 3.7%. Kinder Morgan's dividend payout ratio is presently 79.87%.

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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