Van ECK Associates Corp Increases Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Van ECK Associates increased its Kinder Morgan stake by 30.9% in the second quarter, adding 321,924 shares and bringing its holdings to 1.36 million shares valued at approximately $43.6 million. Institutional investors collectively own 62.52% of KMI.
• Kinder Morgan reported quarterly earnings of $0.37 per share, exceeding the $0.31 analyst consensus, while revenue rose 10.8% year over year to $4.48 billion. The company also maintains a quarterly dividend of $0.2975 per share, yielding about 3.8% annually.
• Analyst sentiment remains mixed, with eight Buy ratings and ten Hold ratings, resulting in a consensus “Hold” rating and an average price target of $35.50 versus the stock’s recent price of $31.57.

Van ECK Associates Corp raised its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 30.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,363,867 shares of the pipeline company's stock after buying an additional 321,924 shares during the quarter. Van ECK Associates Corp owned approximately 0.06% of Kinder Morgan worth $43,603,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Kinder Morgan by 1.1% during the 2nd quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock valued at $5,621,421,000 after acquiring an additional 1,875,143 shares during the last quarter. State Street Corp raised its position in shares of Kinder Morgan by 2.2% during the 4th quarter. State Street Corp now owns 116,860,317 shares of the pipeline company's stock valued at $3,212,490,000 after buying an additional 2,510,601 shares during the period. Bank of America Corp DE lifted its holdings in Kinder Morgan by 1.4% in the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company's stock valued at $2,079,477,000 after acquiring an additional 836,571 shares during the last quarter. Norges Bank acquired a new stake in Kinder Morgan during the fourth quarter worth $1,132,125,000. Finally, Charles Schwab Investment Management Inc. raised its position in Kinder Morgan by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,104,829 shares of the pipeline company's stock valued at $827,582,000 after purchasing an additional 195,088 shares during the period. Hedge funds and other institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Kinder Morgan in a report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of Kinder Morgan from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. UBS Group reaffirmed a "buy" rating and set a $43.00 target price on shares of Kinder Morgan in a research note on Monday, June 15th. Zacks Research cut shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, Citigroup reissued a "neutral" rating on shares of Kinder Morgan in a research note on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinder Morgan presently has a consensus rating of "Hold" and an average price target of $35.50.

Insider Activity at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction on Friday, June 5th. The shares were sold at an average price of $31.83, for a total transaction of $196,263.78. Following the completion of the sale, the vice president directly owned 170,374 shares of the company's stock, valued at approximately $5,423,004.42. The trade was a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total transaction of $48,732.00. Following the transaction, the vice president owned 41,743 shares of the company's stock, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,882 shares of company stock valued at $441,691 in the last quarter. 12.72% of the stock is currently owned by company insiders.

Kinder Morgan Price Performance

KMI stock opened at $31.57 on Friday. The business's 50-day moving average is $32.03 and its two-hundred day moving average is $32.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36. The firm has a market capitalization of $70.30 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.47 and a beta of 0.54. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. Kinder Morgan had a return on equity of 10.46% and a net margin of 19.31%.The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The business's revenue for the quarter was up 10.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Analysts anticipate that Kinder Morgan, Inc. will post 1.55 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, August 3rd. Kinder Morgan's payout ratio is 76.28%.

About Kinder Morgan

Kinder Morgan NYSE: KMI is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company's assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan's operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.

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