Gotham Asset Management LLC Acquires 134,510 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Gotham Asset Management LLC increased its stake in Kinder Morgan, Inc. by 23.6%, owning a total of 704,384 shares valued at approximately $20 million after acquiring additional shares.
• Multiple hedge funds have also significantly adjusted their positions in Kinder Morgan, with Sierra Ocean LLC increasing their holdings by an impressive 927.1% during the same quarter.
• Analysts have affirmed a positive outlook on Kinder Morgan, with nine analysts rating the stock as a buy and setting an average target price of $31.20.

Gotham Asset Management LLC raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 23.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 704,384 shares of the pipeline company's stock after acquiring an additional 134,510 shares during the period. Gotham Asset Management LLC's holdings in Kinder Morgan were worth $20,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KMI. Nuveen LLC purchased a new stake in shares of Kinder Morgan during the first quarter valued at approximately $205,966,000. 59 North Capital Management LP purchased a new stake in shares of Kinder Morgan during the first quarter valued at approximately $195,658,000. Goldman Sachs Group Inc. boosted its stake in shares of Kinder Morgan by 37.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock valued at $578,628,000 after purchasing an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Kinder Morgan by 212.5% during the first quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock valued at $156,009,000 after purchasing an additional 3,718,521 shares during the period. Finally, Zimmer Partners LP purchased a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $62,499,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insider Activity

In related news, Director Amy W. Chronis purchased 2,759 shares of Kinder Morgan stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the acquisition, the director directly owned 34,764 shares of the company's stock, valued at $945,928.44. The trade was a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sital K. Mody sold 45,549 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,008 shares of company stock valued at $3,553,982. 12.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley set a $34.00 price objective on Kinder Morgan in a research note on Monday, July 7th. Wells Fargo & Company raised their price target on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Wolfe Research raised 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. Stifel Nicolaus raised their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Kinder Morgan Stock Up 0.6%

Kinder Morgan stock traded up $0.16 on Tuesday, hitting $26.64. 10,958,074 shares of the stock traded hands, compared to its average volume of 14,454,779. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. 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 business's fifty day simple moving average is $27.31 and its 200 day simple moving average is $27.34. The firm has a market cap of $59.20 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 3.12 and a beta of 0.81.

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

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is presently 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.