North Dakota State Investment Board Acquires Shares of 66,682 Kinder Morgan, Inc. $KMI

Key Points

• North Dakota State Investment Board opened a new position in Kinder Morgan, buying 66,682 shares worth about $1.83 million in the fourth quarter.
• Several other institutional investors also added to or initiated stakes, and 62.52% of Kinder Morgan’s stock is now held by hedge funds and other institutions.
• Kinder Morgan reported better-than-expected Q1 results, with EPS of $0.48 versus $0.38 expected and revenue of $4.83 billion, while also raising its quarterly dividend to $0.2975 per share.

North Dakota State Investment Board acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 66,682 shares of the pipeline company's stock, valued at approximately $1,833,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in Kinder Morgan during the 4th quarter valued at approximately $27,000. Dorato Capital Management purchased a new stake in Kinder Morgan during the 4th quarter valued at approximately $30,000. Strategic Advocates LLC purchased a new stake in Kinder Morgan during the 3rd quarter valued at approximately $32,000. Torren Management LLC purchased a new stake in Kinder Morgan during the 4th quarter valued at approximately $32,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Kinder Morgan during the 4th quarter valued at approximately $33,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $32.93, for a total value of $203,046.38. Following the completion of the transaction, the vice president directly owned 182,706 shares of the company's stock, valued at $6,016,508.58. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the completion of the transaction, the vice president directly owned 43,293 shares of the company's stock, valued at $1,456,809.45. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,148 shares of company stock valued at $763,434 over the last ninety days. 12.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on KMI shares. Zacks Research raised Kinder Morgan from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Wolfe Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada increased their target price on Kinder Morgan from $32.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Monday, March 30th. Truist Financial initiated coverage on Kinder Morgan in a research note on Tuesday, March 24th. They set a "hold" rating and a $38.00 target price for the company. Finally, Barclays reissued an "overweight" rating on shares of Kinder Morgan in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.20.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $34.36 on Wednesday. The company has a market cap of $76.44 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The stock has a 50 day simple moving average of $32.75 and a 200-day simple moving average of $30.09. Kinder Morgan, Inc. has a 12-month low of $25.60 and a 12-month high of $34.81. 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 issued its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.10. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.55 billion. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a $0.2975 dividend. This represents a $1.19 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's dividend payout ratio (DPR) is 79.87%.

Kinder Morgan Company Profile

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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