Geode Capital Management LLC Buys 599,152 Shares of Kinder Morgan, Inc. $KMI

Geode Capital Management LLC raised its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,848,863 shares of the pipeline company’s stock after acquiring an additional 599,152 shares during the period. Geode Capital Management LLC’s holdings in Kinder Morgan were worth $1,518,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $308,000. Bleakley Financial Group LLC grew its position in Kinder Morgan by 7.7% in the 1st quarter. Bleakley Financial Group LLC now owns 30,668 shares of the pipeline company’s stock valued at $875,000 after acquiring an additional 2,198 shares during the last quarter. Edgestream Partners L.P. increased its stake in Kinder Morgan by 113.3% in the first quarter. Edgestream Partners L.P. now owns 157,475 shares of the pipeline company’s stock worth $4,493,000 after purchasing an additional 83,631 shares during the period. Signaturefd LLC boosted its stake in shares of Kinder Morgan by 1.8% during the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company’s stock valued at $601,000 after purchasing an additional 381 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in shares of Kinder Morgan by 9.4% in the first quarter. Apollon Wealth Management LLC now owns 94,519 shares of the pipeline company’s stock worth $2,697,000 after purchasing an additional 8,089 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 3,800 shares of Kinder Morgan stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $26.23 per share, with a total value of $99,674.00. Following the completion of the acquisition, the director directly owned 39,051 shares in the company, valued at approximately $1,024,307.73. This trade represents a 10.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard D. Kinder purchased 1,000,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $25.96 per share, for a total transaction of $25,960,000.00. Following the completion of the transaction, the chairman directly owned 246,212,353 shares in the company, valued at $6,391,672,683.88. This trade represents a 0.41% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 1,004,287 shares of company stock worth $26,072,463 and have sold 18,498 shares worth $506,660. 12.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KMI has been the subject of a number of research reports. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Friday, July 25th. Scotiabank dropped their price target on 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. BMO Capital Markets started coverage on Kinder Morgan in a research note on Friday, September 19th. They set an “outperform” rating and a $32.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price 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. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.19.

Kinder Morgan Stock Up 0.3%

KMI stock opened at $27.03 on Thursday. The firm has a 50 day moving average of $27.18 and a 200 day moving average of $27.42. The stock 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 quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.98. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. 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 earnings per share for the current year.

Kinder Morgan Dividend Announcement

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