Strs Ohio Purchases New Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Strs Ohio recently acquired a significant new stake in Kinder Morgan, purchasing 871,287 shares valued at approximately $24.86 million in the first quarter.
• Wall Street analysts are optimistic, with nine analysts giving a Buy rating for Kinder Morgan and setting a consensus price target of $31.20.
• Kinder Morgan also reported a quarterly earnings result of $0.28 EPS, which met analysts' estimates, and announced a $0.2925 quarterly dividend with a yield of 4.2%.

Strs Ohio purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 871,287 shares of the pipeline company's stock, valued at approximately $24,858,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ellsworth Advisors LLC increased its position in shares of Kinder Morgan by 2.8% during the first quarter. Ellsworth Advisors LLC now owns 78,222 shares of the pipeline company's stock valued at $2,232,000 after acquiring an additional 2,167 shares during the last quarter. Rollins Financial Advisors LLC increased its position in Kinder Morgan by 3.4% in the first quarter. Rollins Financial Advisors LLC now owns 190,569 shares of the pipeline company's stock worth $5,437,000 after buying an additional 6,271 shares during the last quarter. Acadian Asset Management LLC increased its position in Kinder Morgan by 170.9% in the first quarter. Acadian Asset Management LLC now owns 329,789 shares of the pipeline company's stock worth $9,402,000 after buying an additional 208,067 shares during the last quarter. Intech Investment Management LLC increased its position in Kinder Morgan by 86.1% in the first quarter. Intech Investment Management LLC now owns 149,155 shares of the pipeline company's stock worth $4,255,000 after buying an additional 69,014 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Kinder Morgan by 7.9% in the first quarter. Focus Partners Wealth now owns 3,509,630 shares of the pipeline company's stock worth $100,130,000 after buying an additional 257,126 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KMI has been the subject of a number of recent research reports. Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. TD Cowen initiated coverage on Kinder Morgan in a research 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 Kinder Morgan in a research report on Monday, July 7th. JPMorgan Chase & Co. raised their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan 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 completion of the sale, the vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. 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 ninety days. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $27.58 on Friday. Kinder Morgan, Inc. has a one year low of $20.97 and a one year high of $31.48. The business has a fifty day moving average price of $27.22 and a 200-day moving average price of $27.35. 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 capitalization of $61.28 billion, a P/E ratio of 22.61, a PEG ratio of 3.23 and a beta of 0.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS 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 return on equity of 8.31% and a net margin of 17.06%.The business's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were paid a dividend of $0.2925 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.2%. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.