PUREfi Wealth LLC Buys Shares of 6,844 Kinder Morgan, Inc. $KMI

PUREfi Wealth LLC bought a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,844 shares of the pipeline company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMI. Nuveen LLC acquired a new stake in Kinder Morgan during the 1st quarter valued at approximately $205,966,000. 59 North Capital Management LP bought a new position in shares of Kinder Morgan during the 1st quarter worth approximately $195,658,000. Goldman Sachs Group Inc. boosted its holdings in shares of Kinder Morgan by 37.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after buying an additional 5,529,065 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Kinder Morgan by 212.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company’s stock worth $156,009,000 after buying an additional 3,718,521 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $68,124,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank cut their price target on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a report on Saturday, September 27th. Barclays restated an “overweight” rating and set a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Stifel Nicolaus increased their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. upped 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. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.25.

Insiders Place Their Bets

In related news, Director Amy W. Chronis purchased 2,759 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average cost of $27.21 per share, with a total value of $75,072.39. Following the transaction, the director owned 34,764 shares of the company’s stock, valued at $945,928.44. This represents a 8.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the sale, the chief financial officer directly owned 159,428 shares of the company’s stock, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,008 shares of company stock worth $3,553,982 in the last three months. 12.73% of the stock is owned by corporate insiders.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $27.93 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a twelve month low of $23.06 and a twelve month high of $31.48. The stock’s 50 day moving average is $27.28 and its 200-day moving average is $27.46. The firm has a market capitalization of $62.06 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.35 and a beta of 0.78.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $4.04 billion for 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%.Kinder Morgan’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan’s dividend payout ratio is presently 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.