Raymond James Financial Inc. Has $163.76 Million Stock Position in Kinder Morgan, Inc. $KMI

Key Points

• Raymond James Financial Inc. owns a stake in Kinder Morgan, Inc. worth $163.76 million after a slight reduction in shares during the first quarter.
• Institutions hold 62.52% of Kinder Morgan's stock, with notable increases in positions from firms like Goldman Sachs and Assenagon Asset Management.
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, representing a dividend yield of 4.4% and a payout ratio of 95.90%.

Raymond James Financial Inc. reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,739,740 shares of the pipeline company's stock after selling 19,531 shares during the period. Raymond James Financial Inc. owned approximately 0.26% of Kinder Morgan worth $163,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KMI. Cresset Asset Management LLC raised its holdings in shares of Kinder Morgan by 1.4% in the 1st quarter. Cresset Asset Management LLC now owns 661,856 shares of the pipeline company's stock valued at $18,883,000 after purchasing an additional 9,145 shares in the last quarter. Boston Family Office LLC increased its stake in Kinder Morgan by 1.6% during the 1st quarter. Boston Family Office LLC now owns 26,655 shares of the pipeline company's stock valued at $760,000 after purchasing an additional 426 shares in the last quarter. RR Advisors LLC increased its stake in shares of Kinder Morgan by 4.6% in the first quarter. RR Advisors LLC now owns 909,000 shares of the pipeline company's stock worth $25,947,000 after acquiring an additional 40,000 shares during the period. Oak Grove Capital LLC boosted its holdings in Kinder Morgan by 38.0% during the first quarter. Oak Grove Capital LLC now owns 63,600 shares of the pipeline company's stock worth $1,815,000 after buying an additional 17,500 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Kinder Morgan by 1.6% during the first quarter. American Century Companies Inc. now owns 375,486 shares of the pipeline company's stock worth $10,713,000 after buying an additional 6,035 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research note on Monday, July 7th. Scotiabank boosted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Cowen assumed coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating for the company. TD Cowen began coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Finally, Barclays restated an "overweight" rating and set a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Kinder Morgan has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Kinder Morgan Stock Performance

KMI stock traded down $0.1520 during trading on Friday, hitting $26.6680. 13,028,447 shares of the company's stock traded hands, compared to its average volume of 14,562,385. The stock has a market capitalization of $59.26 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.78. The stock has a fifty day moving average price of $27.66 and a two-hundred day moving average price of $27.34. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99.

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

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan's dividend payout ratio is currently 95.90%.

Insider Buying and Selling

In related news, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy W. Chronis acquired 2,759 shares of the business's stock in a transaction dated Monday, July 28th. The shares were acquired at an average price of $27.21 per share, for a total transaction of $75,072.39. Following the acquisition, the director directly owned 34,764 shares in the company, valued at $945,928.44. This represents a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 139,842 shares of company stock valued at $3,896,180 in the last ninety days. 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.