Maryland State Retirement & Pension System Grows Stock Holdings in Kinder Morgan, Inc. $KMI

Maryland State Retirement & Pension System increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,836,672 shares of the pipeline company’s stock after buying an additional 106,634 shares during the period. Kinder Morgan accounts for approximately 1.2% of Maryland State Retirement & Pension System’s holdings, making the stock its 11th biggest position. Maryland State Retirement & Pension System’s holdings in Kinder Morgan were worth $53,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMI. Brighton Jones LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at about $308,000. Miracle Mile Advisors LLC increased its holdings in Kinder Morgan by 6.3% during the first quarter. Miracle Mile Advisors LLC now owns 12,215 shares of the pipeline company’s stock valued at $348,000 after buying an additional 729 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Kinder Morgan by 20.6% during the first quarter. Park Avenue Securities LLC now owns 84,552 shares of the pipeline company’s stock valued at $2,412,000 after buying an additional 14,448 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Kinder Morgan by 166.0% during the first quarter. Farther Finance Advisors LLC now owns 57,353 shares of the pipeline company’s stock valued at $1,642,000 after buying an additional 35,789 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in Kinder Morgan by 13.4% during the first quarter. Pallas Capital Advisors LLC now owns 21,240 shares of the pipeline company’s stock valued at $606,000 after buying an additional 2,507 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

KMI has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, August 14th. TD Cowen initiated coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a “buy” rating and a $34.00 target price for the company. BMO Capital Markets initiated coverage on shares of Kinder Morgan in a report on Friday, September 19th. They set an “outperform” rating and a $32.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday. Finally, Cowen started coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a “buy” rating for the company. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $31.25.

Kinder Morgan Trading Up 0.5%

Shares of Kinder Morgan stock opened at $28.14 on Thursday. Kinder Morgan, Inc. has a twelve month low of $23.19 and a twelve month high of $31.48. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $27.29 and a 200-day moving average price of $27.47. The firm 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 issued its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Activity at Kinder Morgan

In related news, EVP Dax Sanders sold 30,127 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the sale, the executive vice president owned 292,000 shares of the company’s stock, valued at $7,898,600. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Patrick Michels sold 40,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer directly owned 159,428 shares in the company, 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 valued at $3,727,678 over the last quarter. 12.73% of the stock is currently owned by 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.