Pacifica Partners Inc. Grows Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Pacifica Partners Inc. increased its stake in Kinder Morgan, Inc. by 11.5% in the 2nd quarter, owning 120,524 shares valued at approximately $3.49 million.
• Insider trading showed VP John W. Schlosser sold 6,166 shares, while Director Amy W. Chronis acquired 2,759 shares, indicating mixed signals from company insiders.
• Kinder Morgan's latest earnings report revealed $0.28 earnings per share, meeting expectations, and a revenue of $4.04 billion, surpassing analysts' estimates.

Pacifica Partners Inc. increased its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,524 shares of the pipeline company's stock after purchasing an additional 12,479 shares during the quarter. Kinder Morgan accounts for 1.4% of Pacifica Partners Inc.'s portfolio, making the stock its 24th largest position. Pacifica Partners Inc.'s holdings in Kinder Morgan were worth $3,493,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in Kinder Morgan in the first quarter worth $205,966,000. 59 North Capital Management LP acquired a new position in shares of Kinder Morgan in the 1st quarter valued at $195,658,000. Goldman Sachs Group Inc. boosted its position in Kinder Morgan by 37.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock worth $578,628,000 after acquiring an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. increased its position in Kinder Morgan by 212.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after purchasing an additional 3,718,521 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Kinder Morgan during the second quarter valued at about $68,124,000. Institutional investors and hedge funds own 62.52% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on KMI. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Morgan Stanley set a $32.00 price target on shares of Kinder Morgan in a report on Thursday. Cowen assumed coverage on Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating on the stock. Finally, Scotiabank dropped their price target on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of "Moderate Buy" and an average target price of $31.06.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the sale, the chief financial officer owned 159,428 shares of the company's stock, valued at approximately $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $27.00, for a total value of $166,482.00. Following the sale, the vice president directly owned 225,868 shares of the company's stock, valued at approximately $6,098,436. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,008 shares of company stock worth $3,553,982 over the last ninety days. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Trading Down 0.8%

Shares of KMI traded down $0.23 during midday trading on Monday, hitting $27.20. The stock had a trading volume of 9,822,571 shares, compared to its average volume of 11,540,258. The stock's 50 day moving average is $27.14 and its 200 day moving average is $27.40. The firm has a market cap of $60.43 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 3.22 and a beta of 0.81. Kinder Morgan, Inc. has a 1 year low of $21.61 and a 1 year high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced 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. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan's revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

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