Orrstown Financial Services Inc. Buys Shares of 11,120 Kinder Morgan, Inc. $KMI

Key Points

• Orrstown Financial Services Inc. has acquired a new stake in Kinder Morgan, purchasing 11,120 shares worth approximately $327,000 during the 2nd quarter.
• Insider selling at Kinder Morgan revealed significant transactions, with CFO David Patrick Michels selling 40,000 shares for over $1.1 million, reflecting a 20.06% decrease in his holdings.
• Kinder Morgan's latest earnings report showed a quarterly revenue of $4.04 billion, exceeding analysts' expectations, and the company declared a quarterly dividend yielding 4.3%.

Orrstown Financial Services Inc. purchased a new stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,120 shares of the pipeline company's stock, valued at approximately $327,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC increased its holdings in shares of Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $26,000. JNBA Financial Advisors increased its holdings in shares of 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 last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $29,000. Finally, Grove Bank & Trust increased its holdings in shares of Kinder Morgan by 2,913.5% in the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 1,078 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Analyst Ratings Changes

KMI has been the subject of several analyst reports. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Friday, July 25th. Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. Morgan Stanley set a $32.00 price objective on Kinder Morgan in a research report on Thursday. BMO Capital Markets initiated coverage on Kinder Morgan in a research report on Friday. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and an average price target of $31.06.

Kinder Morgan Stock Performance

KMI traded up $0.35 on Tuesday, hitting $27.53. 5,800,955 shares of the company traded hands, compared to its average volume of 14,262,980. The company has a 50 day moving average of $27.14 and a 200-day moving average of $27.40. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $61.16 billion, a PE ratio of 22.56, a PEG ratio of 3.22 and a beta of 0.81. Kinder Morgan, Inc. has a 12-month low of $21.61 and a 12-month high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan's dividend payout ratio is 95.90%.

Insider Buying and Selling at Kinder Morgan

In other news, EVP Dax Sanders sold 30,127 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.05, for a total transaction of $814,935.35. Following the completion of the transaction, the executive vice president directly owned 292,000 shares of the company's stock, valued at approximately $7,898,600. This represents a 9.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the transaction, the vice president directly owned 225,868 shares of the company's stock, valued at approximately $6,098,436. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,008 shares of company stock worth $3,553,982. 12.73% of the stock is currently owned by company insiders.

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.