Jennison Associates LLC Increases Stake in Kinder Morgan, Inc. $KMI

Key Points

• Jennison Associates LLC boosted its Kinder Morgan stake by 5.8% in Q1, adding 60,187 shares to bring its total holding to 1,096,668 shares worth about $36.8 million.
• Kinder Morgan reported strong quarterly results, with EPS of $0.48 beating estimates and revenue of $4.83 billion coming in above expectations, while revenue rose 13.8% year over year.
• The company also raised its quarterly dividend to $0.2975 per share, implying an annualized yield of about 3.6%; meanwhile, analysts currently have a consensus Hold rating with an average price target of $34.71.

Jennison Associates LLC increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,096,668 shares of the pipeline company's stock after purchasing an additional 60,187 shares during the period. Jennison Associates LLC's holdings in Kinder Morgan were worth $36,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its holdings in Kinder Morgan by 14.4% in the 4th quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company's stock worth $12,849,000 after buying an additional 59,013 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kinder Morgan by 44.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,135,863 shares of the pipeline company's stock worth $29,523,000 after acquiring an additional 350,348 shares during the period. TABR Capital Management LLC purchased a new position in shares of Kinder Morgan during the fourth quarter worth $6,477,000. Generali Asset Management SPA SGR lifted its position in Kinder Morgan by 47.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 156,764 shares of the pipeline company's stock valued at $4,309,000 after purchasing an additional 50,403 shares during the period. Finally, Partners Group Holding AG boosted its holdings in Kinder Morgan by 45.0% in the fourth quarter. Partners Group Holding AG now owns 291,741 shares of the pipeline company's stock valued at $8,020,000 after purchasing an additional 90,593 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 1.0%

Shares of NYSE:KMI opened at $32.62 on Tuesday. The business's 50 day moving average price is $32.29 and its 200-day moving average price is $31.72. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81. The firm has a market capitalization of $72.56 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41.

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

Kinder Morgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a dividend of $0.2975 per share. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan's dividend payout ratio is presently 79.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KMI shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Citigroup lifted their price target on Kinder Morgan from $28.00 to $33.00 and gave the company a "neutral" rating in a research report on Monday, March 30th. Zacks Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on Kinder Morgan from $32.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Monday, March 30th. Finally, Scotiabank raised their price objective on shares of Kinder Morgan from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 26th. Eight analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $34.71.

Insider Activity

In related news, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $32.41, for a total value of $199,840.06. Following the transaction, the vice president directly owned 176,540 shares of the company's stock, valued at approximately $5,721,661.40. This trade represents a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Kinder Morgan stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the sale, the vice president owned 41,743 shares in the company, valued at approximately $1,312,399.92. The trade was a 3.58% 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. In the last 90 days, insiders have sold 21,598 shares of company stock valued at $693,689. Insiders own 12.72% of the company's stock.

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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