US Bancorp DE decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 10.4% in the second quarter, Holdings Channel.com reports. The firm owned 241,697 shares of the pipeline company’s stock after selling 27,907 shares during the period. US Bancorp DE’s holdings in Kinder Morgan were worth $7,106,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in KMI. Alhambra Investment Management LLC boosted its stake in shares of Kinder Morgan by 2.3% during the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company’s stock worth $468,000 after acquiring an additional 363 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Kinder Morgan by 4.2% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company’s stock worth $276,000 after acquiring an additional 374 shares during the last quarter. Morton Capital Management LLC CA boosted its stake in shares of Kinder Morgan by 1.0% during the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company’s stock worth $1,084,000 after acquiring an additional 377 shares during the last quarter. QTR Family Wealth LLC boosted its stake in shares of Kinder Morgan by 2.7% during the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 377 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Kinder Morgan by 0.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company’s stock worth $1,396,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.
Insider Buying and Selling
In other Kinder Morgan news, Director Amy W. Chronis bought 2,759 shares of Kinder Morgan stock in a transaction dated Monday, July 28th. The shares were purchased at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the acquisition, the director directly owned 34,764 shares in the company, valued at approximately $945,928.44. This represents a 8.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sital K. Mody sold 45,549 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. Insiders sold a total of 134,174 shares of company stock worth $3,727,678 in the last 90 days. 12.73% of the stock is owned by company insiders.
Kinder Morgan Stock Performance
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, analysts anticipate 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 Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Thursday, July 31st. Kinder Morgan’s payout ratio is currently 95.90%.
Wall Street Analysts Forecast Growth
KMI has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of Kinder Morgan in a research note on Thursday. They set a “hold” rating and a $30.00 target price on the stock. Barclays restated an “overweight” rating and set a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Finally, TD Cowen began coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a “buy” rating and a $34.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.
Read Our Latest Report on Kinder Morgan
Kinder Morgan Company Profile
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.
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