Maryland State Retirement & Pension System Purchases 106,634 Shares of Kinder Morgan, Inc. $KMI

Key Points

• The Maryland State Retirement & Pension System increased its stake in Kinder Morgan by 6.2%, acquiring an additional 106,634 shares during the second quarter, bringing its total holdings to approximately 1,836,672 shares.
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, providing a yield of 4.2%, while the company's payout ratio stands at 95.90%.
• Analysts are optimistic about Kinder Morgan's performance, with several firms giving it a buy rating and an average price target of $31.25.

Maryland State Retirement & Pension System boosted its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,836,672 shares of the pipeline company's stock after acquiring an additional 106,634 shares during the period. Kinder Morgan accounts for 1.2% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 11th biggest position. Maryland State Retirement & Pension System owned approximately 0.08% of Kinder Morgan worth $53,998,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KMI. Brighton Jones LLC bought a new stake in Kinder Morgan in the 4th quarter worth $308,000. Miracle Mile Advisors LLC lifted its position in shares of Kinder Morgan by 6.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 12,215 shares of the pipeline company's stock worth $348,000 after purchasing an additional 729 shares during the period. Park Avenue Securities LLC lifted its position in shares of Kinder Morgan by 20.6% in the 1st quarter. Park Avenue Securities LLC now owns 84,552 shares of the pipeline company's stock worth $2,412,000 after purchasing an additional 14,448 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Kinder Morgan by 166.0% in the 1st quarter. Farther Finance Advisors LLC now owns 57,353 shares of the pipeline company's stock worth $1,642,000 after purchasing an additional 35,789 shares during the period. Finally, Pallas Capital Advisors LLC lifted its position in shares of Kinder Morgan by 13.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 21,240 shares of the pipeline company's stock worth $606,000 after purchasing an additional 2,507 shares during the period. Institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Up 0.5%

Shares of Kinder Morgan stock opened at $28.14 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The stock has a market capitalization of $62.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 3.29 and a beta of 0.78. Kinder Morgan, Inc. has a 52-week low of $23.19 and a 52-week high of $31.48. The company has a 50-day simple moving average of $27.29 and a two-hundred day simple moving average of $27.47.

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 (EPS) for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.2%. Kinder Morgan's payout ratio is 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the transaction, the chief financial officer directly owned 159,428 shares of the company's stock, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy W. Chronis bought 2,759 shares of the firm's stock in a transaction on Monday, July 28th. The stock was purchased at an average cost of $27.21 per share, with a total value of $75,072.39. Following the completion of the acquisition, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. The trade was a 8.62% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KMI. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kinder Morgan in a research report on Wednesday. TD Cowen began coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Barclays reaffirmed an "overweight" rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Wolfe Research raised shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Friday, July 25th. Finally, Scotiabank lowered their price target on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, September 19th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.25.

Kinder Morgan Company 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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