Panagora Asset Management Inc. Increases Stock Position in Kinder Morgan, Inc. $KMI

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Kinder Morgan, Inc. by 693.7%, owning 1,554,267 shares valued at approximately $44.3 million as of the last reporting period.
• Analysts have a consensus rating of "Moderate Buy" for Kinder Morgan, with a target price averaging $31.20, reflecting positive sentiment among nine buy ratings and seven hold ratings.
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, resulting in an annualized yield of 4.3% and a dividend payout ratio of 95.90%.

Panagora Asset Management Inc. increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 693.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,554,267 shares of the pipeline company's stock after acquiring an additional 1,358,446 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.07% of Kinder Morgan worth $44,343,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Morton Capital Management LLC CA raised its holdings in Kinder Morgan by 1.0% during the first quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock worth $1,084,000 after buying an additional 377 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Kinder Morgan by 0.8% during the first quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after buying an additional 378 shares during the last quarter. Diligent Investors LLC raised its holdings in Kinder Morgan by 1.5% during the fourth quarter. Diligent Investors LLC now owns 26,083 shares of the pipeline company's stock worth $715,000 after buying an additional 381 shares during the last quarter. Signaturefd LLC raised its holdings in Kinder Morgan by 1.8% during the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock worth $601,000 after buying an additional 381 shares during the last quarter. Finally, Aspiriant LLC raised its holdings in Kinder Morgan by 1.7% during the first quarter. Aspiriant LLC now owns 23,738 shares of the pipeline company's stock worth $677,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KMI shares. Barclays restated an "overweight" rating and set a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. TD Cowen initiated coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a report on Monday, July 7th. Scotiabank increased their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Kinder Morgan Stock Performance

NYSE:KMI traded down $0.01 on Wednesday, reaching $26.73. 10,191,592 shares of the company's stock were exchanged, compared to its average volume of 14,499,420. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market cap of $59.39 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 3.41 and a beta of 0.81. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48. The stock has a fifty day simple moving average of $27.49 and a 200-day simple moving average of $27.33.

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, hitting analysts' consensus estimates of $0.28. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan's dividend payout ratio is 95.90%.

Insiders Place Their Bets

In other news, VP Sital K. Mody sold 45,549 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dax Sanders sold 30,127 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the transaction, the executive vice president owned 292,000 shares of the company's stock, valued at $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,842 shares of company stock worth $3,387,500. Company insiders own 12.73% of the company's stock.

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.