Harvest Portfolios Group Inc. Acquires 24,320 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Harvest Portfolios Group Inc. increased its holdings in Kinder Morgan, Inc. by 10.9% in Q1, now owning 246,588 shares valued at approximately $7.04 million.
• Wall Street analysts have generally rated Kinder Morgan with a consensus of "Moderate Buy," with a price target averaging around $31.20.
• Kinder Morgan declared a quarterly dividend of $0.2925, amounting to an annualized dividend yield of 4.4%, with a payout ratio of 95.90%.

Harvest Portfolios Group Inc. boosted its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,588 shares of the pipeline company's stock after acquiring an additional 24,320 shares during the period. Harvest Portfolios Group Inc.'s holdings in Kinder Morgan were worth $7,035,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC boosted its holdings in Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Kinder Morgan in the 4th quarter worth about $26,000. Morse Asset Management Inc purchased a new position in Kinder Morgan in the 4th quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in Kinder Morgan in the 4th quarter worth about $29,000. Finally, JNBA Financial Advisors raised its position in Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after buying an additional 870 shares during the last quarter. Institutional investors own 62.52% of the company's stock.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the transaction, the vice president directly owned 232,034 shares in the company, valued at approximately $6,450,545.20. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dax Sanders sold 30,127 shares of the company's 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 transaction, the executive vice president owned 292,000 shares of the company's stock, valued at $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock worth $3,896,180 in the last quarter. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.17 during mid-day trading on Thursday, reaching $27.00. 11,851,714 shares of the company traded hands, compared to its average volume of 15,541,550. The company's 50 day moving average price is $27.57 and its 200-day moving average price is $27.32. The firm has a market cap of $59.98 billion, a PE ratio of 22.13, a PEG ratio of 3.39 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, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48.

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

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were paid a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. Kinder Morgan's payout ratio is 95.90%.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. Barclays reissued an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Finally, Scotiabank boosted their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Kinder Morgan currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

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.