Kinder Morgan, Inc. $KMI Stock Holdings Increased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in Kinder Morgan by 1.3%, acquiring a total of 3,388,245 shares valued at approximately $96.67 million.
• Kinder Morgan reported earnings of $0.28 per share for the last quarter, meeting analysts' expectations, with revenue rising 13.2% year-over-year to $4.04 billion.
• The company declared a quarterly dividend of $0.2925 per share, representing an annualized yield of 4.3% and a high dividend payout ratio of 95.90%.

The Manufacturers Life Insurance Company lifted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,388,245 shares of the pipeline company's stock after acquiring an additional 43,359 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of Kinder Morgan worth $96,667,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Trexquant Investment LP acquired a new stake in shares of Kinder Morgan during the first quarter worth $814,000. Graney & King LLC boosted its holdings in shares of Kinder Morgan by 103.7% in the 1st quarter. Graney & King LLC now owns 1,670 shares of the pipeline company's stock valued at $48,000 after purchasing an additional 850 shares during the last quarter. Eisler Capital Management Ltd. acquired a new position in shares of Kinder Morgan in the 1st quarter valued at $510,000. Truvestments Capital LLC boosted its holdings in Kinder Morgan by 18.8% in the first quarter. Truvestments Capital LLC now owns 195,587 shares of the pipeline company's stock valued at $5,580,000 after acquiring an additional 30,936 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in Kinder Morgan by 4.9% in the first quarter. Ieq Capital LLC now owns 127,459 shares of the pipeline company's stock valued at $3,636,000 after acquiring an additional 5,939 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target 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. Scotiabank upped their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Finally, Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research report on Monday, July 7th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 6,166 shares of the firm'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 value of $171,414.80. Following the sale, the vice president owned 232,034 shares of the company's stock, valued at approximately $6,450,545.20. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dax Sanders sold 30,127 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president owned 292,000 shares in the company, 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. In the last 90 days, insiders sold 121,842 shares of company stock worth $3,387,500. Company insiders own 12.73% of the company's stock.

Kinder Morgan Stock Down 0.0%

Shares of KMI stock traded down $0.01 during trading hours on Wednesday, hitting $26.73. 10,172,344 shares of the company were exchanged, compared to its average volume of 14,477,875. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The business's 50-day simple moving average is $27.49 and its two-hundred day simple moving average is $27.33. The stock has a market capitalization of $59.39 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 3.41 and a beta of 0.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the business posted $0.26 EPS. Kinder Morgan'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. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio (DPR) is presently 95.90%.

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.