Cherokee Insurance Co Takes Position in Kinder Morgan, Inc. $KMI

Cherokee Insurance Co acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) in the second quarter, Holdings Channel.com reports. The firm acquired 45,000 shares of the pipeline company’s stock, valued at approximately $1,323,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in Kinder Morgan in the 2nd quarter valued at $26,000. Cranbrook Wealth Management LLC raised its position in shares of Kinder Morgan by 116.1% in the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock worth $31,000 after buying an additional 562 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in Kinder Morgan during the second quarter valued at $34,000. Clearstead Trust LLC purchased a new position in Kinder Morgan during the first quarter worth about $40,000. Finally, N.E.W. Advisory Services LLC bought a new position in Kinder Morgan in the 1st quarter worth about $46,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KMI. Jefferies Financial Group assumed coverage on Kinder Morgan in a report on Thursday, October 9th. They set a “hold” rating and a $30.00 price objective for the company. Wells Fargo & Company lifted their target price 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 reissued a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday, October 8th. Scotiabank lowered their price objective on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Finally, Wolfe Research upgraded shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.19.

Kinder Morgan Trading Up 0.3%

KMI stock opened at $27.03 on Thursday. The company has a market capitalization of $60.14 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 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. The company’s 50 day moving average price is $27.18 and its two-hundred day moving average price is $27.42.

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

Kinder Morgan Dividend Announcement

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

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $27.00, for a total transaction of $166,482.00. Following the transaction, the vice president directly owned 213,536 shares in the company, valued at $5,765,472. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard D. Kinder purchased 1,000,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was bought 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 approximately $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 1,004,287 shares of company stock worth $26,072,463 and sold 18,498 shares worth $506,660. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan 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.