Assetmark Inc. Grows Stake in Kinder Morgan, Inc. $KMI

Assetmark Inc. raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 446.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,146 shares of the pipeline company’s stock after buying an additional 38,512 shares during the quarter. Assetmark Inc.’s holdings in Kinder Morgan were worth $1,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Premier Path Wealth Partners LLC grew its holdings in shares of Kinder Morgan by 5.4% during the second quarter. Premier Path Wealth Partners LLC now owns 41,943 shares of the pipeline company’s stock worth $1,233,000 after purchasing an additional 2,157 shares in the last quarter. Spire Wealth Management grew its stake in Kinder Morgan by 11.2% in the 2nd quarter. Spire Wealth Management now owns 13,320 shares of the pipeline company’s stock worth $392,000 after buying an additional 1,338 shares in the last quarter. Buck Wealth Strategies LLC grew its stake in Kinder Morgan by 33.5% in the 2nd quarter. Buck Wealth Strategies LLC now owns 9,794 shares of the pipeline company’s stock worth $288,000 after buying an additional 2,460 shares in the last quarter. Daymark Wealth Partners LLC grew its position in Kinder Morgan by 11.0% in the second quarter. Daymark Wealth Partners LLC now owns 13,108 shares of the pipeline company’s stock worth $385,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in Kinder Morgan in the second quarter worth $264,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KMI. JPMorgan Chase & Co. upped their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Stifel Nicolaus upped their target price on Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Morgan Stanley set a $30.00 target price on Kinder Morgan in a research note on Thursday, October 9th. Finally, Jefferies Financial Group began coverage on shares of Kinder Morgan in a research note on Thursday, October 9th. They issued a “hold” rating and a $30.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.13.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Chairman Richard D. Kinder purchased 1,000,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $25.96 per share, with a total value of $25,960,000.00. Following the transaction, the chairman directly owned 246,212,353 shares in the company, valued at approximately $6,391,672,683.88. The trade was a 0.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $28.17, for a total transaction of $173,696.22. Following the transaction, the vice president owned 219,702 shares of the company’s stock, valued at $6,189,005.34. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 1,004,287 shares of company stock valued at $26,072,463 and sold 42,459 shares valued at $1,155,114. Company insiders own 12.73% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $25.93 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.63 and a quick ratio of 0.53. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48. The company has a 50-day simple moving average of $27.19 and a two-hundred day simple moving average of $27.41. The firm has a market capitalization of $57.69 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 3.01 and a beta of 0.77.

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

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, November 3rd. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

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.