Legal & General Group Plc decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,561,768 shares of the pipeline company's stock after selling 317,130 shares during the period. Legal & General Group Plc owned approximately 0.70% of Kinder Morgan worth $427,793,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of KMI. Brighton Jones LLC bought a new position in shares of Kinder Morgan in the fourth quarter worth $308,000. Schnieders Capital Management LLC. increased its position in shares of Kinder Morgan by 11.4% in the second quarter. Schnieders Capital Management LLC. now owns 69,444 shares of the pipeline company's stock worth $2,042,000 after purchasing an additional 7,081 shares during the period. NewEdge Advisors LLC boosted its stake in Kinder Morgan by 2.1% in the second quarter. NewEdge Advisors LLC now owns 270,876 shares of the pipeline company's stock valued at $7,964,000 after buying an additional 5,586 shares in the last quarter. Nebula Research & Development LLC bought a new position in Kinder Morgan in the second quarter valued at about $1,168,000. Finally, Sei Investments Co. grew its position in Kinder Morgan by 20.4% in the second quarter. Sei Investments Co. now owns 861,465 shares of the pipeline company's stock valued at $25,328,000 after acquiring an additional 145,806 shares during the last quarter. Institutional investors own 62.52% of the company's stock.
Insider Transactions at Kinder Morgan
In other news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $32.41, for a total transaction of $199,840.06. Following the sale, the vice president directly owned 176,540 shares of the company's stock, valued at approximately $5,721,661.40. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the sale, the vice president directly owned 43,293 shares in the company, valued at $1,456,809.45. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,148 shares of company stock worth $763,434 over the last three months. Insiders own 12.72% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Zacks Research upgraded Kinder Morgan from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on Kinder Morgan from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, March 13th. Weiss Ratings upgraded Kinder Morgan from a "buy (b)" rating to a "buy (a-)" rating in a research report on Monday, May 4th. Morgan Stanley lifted their target price on Kinder Morgan from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Finally, Truist Financial assumed coverage on Kinder Morgan in a research report on Tuesday, March 24th. They issued a "hold" rating and a $38.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.
Read Our Latest Stock Analysis on KMI
Kinder Morgan Stock Performance
Shares of KMI stock opened at $33.80 on Tuesday. The business's 50-day moving average price is $32.79 and its 200-day moving average price is $30.30. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.89 and a beta of 0.56. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92.
Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.55 billion. During the same period last year, the firm posted $0.34 earnings per share. The business's revenue for the quarter was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.49 EPS for the current year.
Kinder Morgan Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a dividend of $0.2975 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.5%. Kinder Morgan's payout ratio is 79.87%.
About Kinder Morgan
(
Free Report)
Kinder Morgan NYSE: KMI is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company's assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan's operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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