Kinder Morgan, Inc. $KMI Shares Purchased by Eastern Bank

Eastern Bank boosted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 223.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 711,343 shares of the pipeline company’s stock after acquiring an additional 491,440 shares during the period. Eastern Bank’s holdings in Kinder Morgan were worth $20,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Kinder Morgan by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock worth $6,092,253,000 after acquiring an additional 3,070,609 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Kinder Morgan by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,848,863 shares of the pipeline company’s stock worth $1,518,195,000 after buying an additional 599,152 shares in the last quarter. Norges Bank purchased a new position in Kinder Morgan in the 2nd quarter valued at approximately $1,162,802,000. Orbis Allan Gray Ltd raised its position in Kinder Morgan by 3.1% in the 2nd quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock valued at $665,474,000 after purchasing an additional 670,856 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Kinder Morgan by 2.8% during the 2nd quarter. Invesco Ltd. now owns 21,949,329 shares of the pipeline company’s stock worth $645,310,000 after acquiring an additional 603,197 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $27.39 on Wednesday. The business’s 50-day simple moving average is $27.02 and its 200 day simple moving average is $27.22. The company has a market cap of $60.93 billion, a P/E ratio of 22.45, a PEG ratio of 2.22 and a beta of 0.69. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.63. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.98 billion. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 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, November 17th. Stockholders of record on Monday, November 3rd were given a dividend of $0.2925 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.17 annualized dividend and a dividend yield of 4.3%. Kinder Morgan’s dividend payout ratio is currently 95.90%.

Analysts Set New Price Targets

KMI has been the topic of a number of research analyst reports. Mizuho cut their target price on Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Jefferies Financial Group lowered their price target on shares of Kinder Morgan from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, December 23rd. BMO Capital Markets assumed coverage on Kinder Morgan in a research report on Friday, September 19th. They issued an “outperform” rating and a $32.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $29.00 price objective on Kinder Morgan in a report on Tuesday, December 23rd. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

Insider Activity

In related news, Chairman Richard D. Kinder acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $25.96 per share, for a total transaction of $25,960,000.00. Following the completion of the purchase, the chairman directly owned 246,212,353 shares in the company, valued at $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy W. Chronis acquired 3,800 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was purchased at an average price 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 trade represents a 10.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 1,004,287 shares of company stock valued at $26,072,463 and have sold 18,498 shares valued at $507,462. Corporate insiders own 12.73% of the company’s stock.

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.