Assenagon Asset Management S.A. Raises Position in Kinder Morgan, Inc. $KMI

Key Points

• Assenagon Asset Management S.A. increased its stake in Kinder Morgan, Inc. by 55.5%, now owning approximately 8.5 million shares valued at $250 million.
• Kinder Morgan has announced a $0.2925 quarterly dividend, reflecting a yield of 4.3% and a payout ratio of 95.90%.
• The company's stock recently faced a 0.8% decline in price, with current trading around $27.46 per share.

Assenagon Asset Management S.A. increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 55.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,505,330 shares of the pipeline company's stock after purchasing an additional 3,037,095 shares during the quarter. Assenagon Asset Management S.A. owned 0.38% of Kinder Morgan worth $250,057,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC raised its holdings in Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after purchasing an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Kinder Morgan during the fourth quarter worth $26,000. JNBA Financial Advisors raised its holdings in Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after purchasing an additional 870 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Kinder Morgan in the fourth quarter worth $29,000. Finally, Grove Bank & Trust raised its holdings in shares of Kinder Morgan by 2,913.5% in the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock worth $32,000 after acquiring an additional 1,078 shares during the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the completion of the sale, the vice president owned 225,868 shares of the company's stock, valued at $6,098,436. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction dated Friday, August 1st. The stock was 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 have sold 128,008 shares of company stock valued at $3,553,982. 12.73% of the stock is owned by insiders.

Kinder Morgan Trading Down 0.8%

KMI stock traded down $0.23 during trading on Monday, reaching $27.20. 6,521,667 shares of the stock traded hands, compared to its average volume of 14,287,532. The business's 50 day moving average price is $27.17 and its 200-day moving average price is $27.39. Kinder Morgan, Inc. has a 52-week low of $21.61 and a 52-week high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market capitalization of $60.43 billion, a PE ratio of 22.29, a P/E/G ratio of 3.22 and a beta of 0.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 quarter in the previous year, the business earned $0.26 earnings per share. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan's payout ratio is 95.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley set a $32.00 price target on Kinder Morgan in a report on Thursday. Wells Fargo & Company boosted their price target on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. TD Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 price target for the company. Barclays reaffirmed an "overweight" rating and issued a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Finally, BMO Capital Markets started coverage on Kinder Morgan in a research report on Friday. They issued an "outperform" rating and a $32.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.06.

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.