KLP Kapitalforvaltning AS Boosts Stake in Kinder Morgan, Inc. $KMI

Key Points

• KLP Kapitalforvaltning AS increased its stake in Kinder Morgan by 2.4%, owning a total of 820,784 shares worth approximately $24.13 million.
• Insider selling activity includes EVP Dax Sanders, who sold 30,127 shares for about $814,935, reducing his position by 9.35%.
• The company declared a quarterly dividend of $0.2925 per share, representing an annualized yield of 4.2%, with a payout ratio of 95.90%.

KLP Kapitalforvaltning AS raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 820,784 shares of the pipeline company's stock after buying an additional 19,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Kinder Morgan were worth $24,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alhambra Investment Management LLC boosted its holdings in shares of Kinder Morgan by 2.3% in the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company's stock worth $468,000 after purchasing an additional 363 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of Kinder Morgan by 4.2% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company's stock worth $276,000 after purchasing an additional 374 shares in the last quarter. Morton Capital Management LLC CA boosted its holdings in shares of Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock worth $1,084,000 after purchasing an additional 377 shares in the last quarter. QTR Family Wealth LLC boosted its holdings in shares of Kinder Morgan by 2.7% in the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company's stock worth $423,000 after purchasing an additional 377 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Kinder Morgan by 0.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after purchasing an additional 378 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, 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 transaction 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. This represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $28.17, for a total value of $173,696.22. Following the transaction, the vice president directly owned 219,702 shares of the company's stock, valued at $6,189,005.34. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,174 shares of company stock worth $3,727,678 over the last three months. 12.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KMI. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Friday, July 25th. Stifel Nicolaus increased their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Scotiabank dropped their target price on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Finally, TD Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Kinder Morgan presently has a consensus rating of "Moderate Buy" and an average target price of $31.25.

Kinder Morgan Trading Up 0.3%

KMI opened at $28.01 on Wednesday. The business has a 50 day simple moving average of $27.28 and a two-hundred day simple moving average of $27.46. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.28 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 one year low of $23.06 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.Kinder Morgan's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. 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 Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. Kinder Morgan's dividend payout ratio is presently 95.90%.

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.

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