Kinder Morgan, Inc. $KMI Shares Purchased by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in Kinder Morgan, Inc. by 2.4% during Q2, owning 688,021 shares valued at approximately $20.2 million.
• Kinder Morgan reported $0.29 earnings per share for the latest quarter, meeting analysts' expectations, and its revenue was up 12.1% year-over-year at $4.15 billion.
• The company announced a quarterly dividend of $0.2925 per share to be paid on November 17, with an annualized yield of 4.4% and a payout ratio of 95.90%.

Carnegie Investment Counsel increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 688,021 shares of the pipeline company's stock after acquiring an additional 16,272 shares during the quarter. Carnegie Investment Counsel's holdings in Kinder Morgan were worth $20,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alhambra Investment Management LLC boosted its position in shares of Kinder Morgan by 2.3% during the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company's stock valued at $468,000 after acquiring an additional 363 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in Kinder Morgan by 4.2% in the second quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company's stock valued at $276,000 after buying an additional 374 shares during the last quarter. QTR Family Wealth LLC lifted its position in Kinder Morgan by 2.7% in the second quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company's stock valued at $423,000 after buying an additional 377 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in Kinder Morgan by 0.8% in the first quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock valued at $1,396,000 after buying an additional 378 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Kinder Morgan by 1.8% in the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock valued at $601,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Stock Down 4.6%

Shares of NYSE:KMI opened at $26.31 on Friday. 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 $58.45 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 3.24 and a beta of 0.78. The firm's 50-day moving average is $27.29 and its two-hundred day moving average is $27.42. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.58%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, November 3rd. Kinder Morgan's dividend payout ratio is presently 95.90%.

Insider Activity

In related news, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the sale, the chief financial officer owned 159,428 shares in the company, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Kinder Morgan in a research report on Thursday, October 9th. They issued a "hold" rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. TD Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

About Kinder Morgan

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.