Korea Investment CORP Grows Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

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Korea Investment CORP increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,942,826 shares of the pipeline company's stock after buying an additional 355,820 shares during the quarter. Korea Investment CORP owned about 0.09% of Kinder Morgan worth $55,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC grew its holdings in shares of 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 buying an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at about $26,000. Morse Asset Management Inc acquired a new stake in Kinder Morgan in the fourth quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at about $29,000. Finally, JNBA Financial Advisors lifted its position in Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares during the period. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Price Performance

Shares of KMI stock traded down $0.1520 during midday trading on Friday, reaching $26.6680. 13,028,814 shares of the company traded hands, compared to its average volume of 14,596,210. The firm's 50 day simple moving average is $27.66 and its two-hundred day simple moving average is $27.34. Kinder Morgan, Inc. has a 1-year low of $20.56 and a 1-year 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 cap of $59.26 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.78.

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 net margin of 17.06% and a return on equity of 8.31%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm earned $0.26 EPS. The company's revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, equities research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's payout ratio is currently 95.90%.

Insider Activity

In related news, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan 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 completion of the transaction, the chief financial officer directly owned 159,428 shares in the company, valued at $4,494,275.32. The trade was a 20.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction that occurred on 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 sold 139,842 shares of company stock worth $3,896,180. 12.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective 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 price objective for the company. Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a research report on Monday, July 7th. Stifel Nicolaus lifted their price target 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. Finally, Scotiabank lifted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.20.

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.