Baxter Bros Inc. Grows Holdings in Kinder Morgan, Inc. $KMI

Baxter Bros Inc. increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 85,046 shares of the pipeline company’s stock after purchasing an additional 2,550 shares during the period. Baxter Bros Inc.’s holdings in Kinder Morgan were worth $2,500,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KMI. Nuveen LLC purchased a new stake in Kinder Morgan during the 1st quarter worth approximately $205,966,000. 59 North Capital Management LP purchased a new stake in Kinder Morgan during the 1st quarter worth approximately $195,658,000. Goldman Sachs Group Inc. grew its holdings in 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 acquiring an additional 5,529,065 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 acquiring an additional 3,718,521 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Kinder Morgan during the 2nd quarter worth approximately $68,124,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. BMO Capital Markets assumed coverage on shares of Kinder Morgan in a report on Friday, September 19th. They set an “outperform” rating and a $32.00 price target for the company. Cowen assumed coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley boosted their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. 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 report on Friday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Kinder Morgan Trading Up 0.5%

Shares of Kinder Morgan stock opened at $28.14 on Thursday. The company has a fifty day simple moving average of $27.29 and a 200-day simple moving average of $27.47. Kinder Morgan, Inc. has a 12-month low of $23.19 and a 12-month high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a market cap of $62.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 3.29 and a beta of 0.78.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. Kinder Morgan’s revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, equities analysts forecast 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 was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.2%. Kinder Morgan’s dividend payout ratio is 95.90%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 45,549 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,174 shares of company stock worth $3,727,678 over the last 90 days. Company insiders own 12.73% of the company’s stock.

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.