15,658 Shares in Kinder Morgan, Inc. (NYSE:KMI) Bought by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC acquired a new stake in Kinder Morgan, purchasing 15,658 shares valued at approximately $447,000 during the 1st quarter of 2023.
• Kinder Morgan reported $0.28 earnings per share for the latest quarter, meeting analysts' expectations, while its revenue grew by 13.2% year-over-year to $4.04 billion.
• The company will pay a quarterly dividend of $0.2925 per share, resulting in an annualized basis dividend of $1.17, with a yield of 4.30%.

Maridea Wealth Management LLC acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,658 shares of the pipeline company's stock, valued at approximately $447,000.

Several other institutional investors also recently made changes to their positions in KMI. Geode Capital Management LLC boosted its position in Kinder Morgan by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company's stock valued at $1,414,813,000 after buying an additional 1,252,609 shares during the last quarter. Northern Trust Corp raised its stake in Kinder Morgan by 8.3% during the fourth quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company's stock worth $573,834,000 after acquiring an additional 1,608,499 shares during the period. Deutsche Bank AG raised its stake in Kinder Morgan by 16.8% during the fourth quarter. Deutsche Bank AG now owns 14,711,722 shares of the pipeline company's stock worth $403,101,000 after acquiring an additional 2,116,576 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in Kinder Morgan by 5.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,786,581 shares of the pipeline company's stock worth $307,741,000 after acquiring an additional 553,395 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kinder Morgan by 22.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,195,545 shares of the pipeline company's stock worth $224,556,000 after acquiring an additional 1,512,083 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KMI. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays restated an "overweight" rating and set a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Scotiabank raised their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Finally, Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a research note on Monday, July 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Kinder Morgan currently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Insider Buying and Selling

In other news, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total value of $508,680.00. Following the completion of the transaction, the president owned 771,652 shares in the company, valued at $21,806,885.52. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy W. Chronis purchased 2,759 shares of Kinder Morgan stock in a transaction dated Monday, July 28th. The stock was bought at an average price of $27.21 per share, with a total value of $75,072.39. Following the acquisition, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Stock Performance

KMI traded down $0.08 during trading on Friday, hitting $27.99. The stock had a trading volume of 8,896,892 shares, compared to its average volume of 14,391,798. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The firm has a market cap of $62.18 billion, a PE ratio of 22.95, a P/E/G ratio of 3.53 and a beta of 0.75. The company has a 50 day simple moving average of $27.95 and a 200-day simple moving average of $27.56. Kinder Morgan, Inc. has a 12 month low of $19.68 and a 12 month high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business earned $0.26 EPS. The firm's revenue was up 13.2% on a year-over-year basis. Analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.2925 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. Kinder Morgan's payout ratio is currently 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.