Drake & Associates LLC Acquires 1,424 Shares of Kinder Morgan, Inc. $KMI

Drake & Associates LLC lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 8.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,315 shares of the pipeline company’s stock after acquiring an additional 1,424 shares during the quarter. Drake & Associates LLC’s holdings in Kinder Morgan were worth $538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC lifted its stake in Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 788 shares during the last quarter. JNBA Financial Advisors increased its holdings in shares of Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock worth $29,000 after buying an additional 870 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Kinder Morgan by 116.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 562 shares during the last quarter. Grove Bank & Trust boosted its holdings in Kinder Morgan by 2,913.5% during the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,078 shares during the period. Finally, Wolff Wiese Magana LLC bought a new position in Kinder Morgan during the 2nd quarter worth approximately $34,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Down 1.9%

Shares of KMI opened at $27.93 on Tuesday. Kinder Morgan, Inc. has a 1-year low of $23.06 and a 1-year 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 firm’s 50-day moving average price is $27.28 and its 200-day moving average price is $27.46. The firm has a market capitalization of $62.06 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.35 and a beta of 0.78.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 4.2%. Kinder Morgan’s payout ratio is currently 95.90%.

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, with a total value of $75,072.39. Following the transaction, the director directly owned 34,764 shares of the company’s stock, valued at $945,928.44. This represents a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the transaction, the chief financial officer directly owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,008 shares of company stock valued at $3,553,982 over the last 90 days. 12.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their price target 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. Barclays reissued an “overweight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Morgan Stanley upped their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research note on Saturday, September 27th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.25.

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.