Assenagon Asset Management S.A. Sells 2,424,979 Shares of Kinder Morgan, Inc. $KMI

Assenagon Asset Management S.A. decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 28.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,080,351 shares of the pipeline company’s stock after selling 2,424,979 shares during the quarter. Assenagon Asset Management S.A. owned 0.27% of Kinder Morgan worth $172,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kinder Morgan in the 2nd quarter valued at approximately $1,162,802,000. 59 North Capital Management LP bought a new stake in Kinder Morgan in the first quarter valued at approximately $195,658,000. Merewether Investment Management LP bought a new position in shares of Kinder Morgan during the second quarter worth $138,477,000. Marshall Wace LLP grew its holdings in shares of Kinder Morgan by 364.8% in the 2nd quarter. Marshall Wace LLP now owns 4,165,348 shares of the pipeline company’s stock valued at $122,461,000 after buying an additional 3,269,284 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Kinder Morgan by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock valued at $6,092,253,000 after buying an additional 3,070,609 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on KMI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday, October 8th. Morgan Stanley set a $30.00 price objective on Kinder Morgan in a report on Thursday, October 9th. Scotiabank decreased their price objective on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Jefferies Financial Group initiated coverage on shares of Kinder Morgan in a report on Thursday, October 9th. They set a “hold” rating and a $30.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Insiders Place Their Bets

In other news, Director Amy W. Chronis bought 3,800 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $26.23 per share, for a total transaction of $99,674.00. Following the completion of the acquisition, the director owned 39,051 shares in the company, valued at approximately $1,024,307.73. This represents a 10.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard D. Kinder purchased 1,000,000 shares of the company’s 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 of the company’s stock, valued at approximately $6,391,672,683.88. This represents a 0.41% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 1,004,287 shares of company stock valued at $26,072,463 and have sold 18,498 shares valued at $511,655. Insiders own 12.73% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $26.34 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. Kinder Morgan, Inc. has a 12 month low of $23.94 and a 12 month high of $31.48. The firm has a fifty day simple moving average of $26.89 and a 200 day simple moving average of $27.34. The stock has a market capitalization of $58.59 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.35 and a beta of 0.67.

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

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, November 3rd. Kinder Morgan’s dividend payout ratio (DPR) 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.