Park Avenue Securities LLC Grows Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Park Avenue Securities LLC increased its stake in Kinder Morgan, Inc. by 15.3%, owning 97,449 shares valued at approximately $2.87 million.
• Various hedge funds have also adjusted their positions in Kinder Morgan, with 62.52% of the stock now owned by institutional investors.
• Analysts have set a consensus price target of $31.06 for Kinder Morgan, with a majority rating it as a "Moderate Buy".

Park Avenue Securities LLC increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,449 shares of the pipeline company's stock after purchasing an additional 12,897 shares during the period. Park Avenue Securities LLC's holdings in Kinder Morgan were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KMI. Brighton Jones LLC purchased a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $308,000. Integrated Advisors Network LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at approximately $268,000. Armis Advisers LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at approximately $232,000. Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at approximately $29,000. Finally, Virtue Capital Management LLC increased its holdings in Kinder Morgan by 14.7% during the fourth quarter. Virtue Capital Management LLC now owns 13,316 shares of the pipeline company's stock valued at $365,000 after buying an additional 1,711 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen assumed coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 target price for the company. Morgan Stanley set a $32.00 target price on shares of Kinder Morgan in a report on Thursday, September 18th. BMO Capital Markets assumed coverage on shares of Kinder Morgan in a report on Friday, September 19th. They set an "outperform" rating and a $32.00 target price for the company. Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.06.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $27.47 on Wednesday. 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 firm has a fifty day moving average price of $27.13 and a 200 day moving average price of $27.40. Kinder Morgan, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $31.48. The firm has a market cap of $61.03 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.19 and a beta of 0.81.

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

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given 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 dividend yield of 4.3%. Kinder Morgan's dividend payout ratio is currently 95.90%.

Insider Activity

In related news, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer owned 159,428 shares in the company, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $27.00, for a total transaction of $166,482.00. Following the transaction, the vice president owned 225,868 shares of the company's stock, valued at approximately $6,098,436. This represents a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,008 shares of company stock valued at $3,553,982 in the last quarter. Company insiders own 12.73% of the company's stock.

Kinder Morgan 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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