Allworth Financial LP Acquires 45,878 Shares of Kinder Morgan, Inc. $KMI

Allworth Financial LP lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 66.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,411 shares of the pipeline company’s stock after purchasing an additional 45,878 shares during the period. Allworth Financial LP’s holdings in Kinder Morgan were worth $3,364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Kinder Morgan during the 1st quarter worth about $205,966,000. 59 North Capital Management LP acquired a new stake in Kinder Morgan in the 1st quarter worth approximately $195,658,000. Goldman Sachs Group Inc. lifted its holdings in Kinder Morgan by 37.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after purchasing an additional 5,529,065 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Kinder Morgan by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after purchasing an additional 3,037,095 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Kinder Morgan during the second quarter valued at approximately $68,124,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinder Morgan

In other news, Chairman Richard D. Kinder purchased 1,000,000 shares of Kinder Morgan stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $25.96 per share, for a total transaction of $25,960,000.00. Following the completion of the transaction, the chairman directly owned 246,212,353 shares in the company, valued at approximately $6,391,672,683.88. This represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy W. Chronis acquired 3,800 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $26.23 per share, with a total value of $99,674.00. Following the acquisition, the director owned 39,051 shares of the company’s stock, valued at approximately $1,024,307.73. This represents a 10.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 1,004,287 shares of company stock valued at $26,072,463 and sold 18,498 shares valued at $506,660. Company insiders own 12.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KMI shares. JPMorgan Chase & Co. boosted their price objective on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Wolfe Research upgraded shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Friday, July 25th. Scotiabank decreased their price target on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their price objective on Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and an average target price of $31.19.

Kinder Morgan Stock Performance

NYSE KMI opened at $27.03 on Thursday. Kinder Morgan, Inc. has a twelve month low of $23.94 and a twelve month high of $31.48. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.98. The stock has a market cap of $60.14 billion, a P/E ratio of 22.16, a PEG ratio of 3.01 and a beta of 0.77. The company’s 50-day simple moving average is $27.18 and its 200 day simple moving average is $27.42.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, November 3rd. Kinder Morgan’s dividend payout ratio is currently 95.90%.

About Kinder Morgan

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.