Charter Research & Investment Group Inc. Reduces Stake in Kinder Morgan, Inc. $KMI

Charter Research & Investment Group Inc. lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,709 shares of the pipeline company’s stock after selling 2,449 shares during the quarter. Charter Research & Investment Group Inc.’s holdings in Kinder Morgan were worth $1,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Kinder Morgan in the 1st quarter worth approximately $205,966,000. 59 North Capital Management LP purchased a new stake in Kinder Morgan during the first quarter valued at approximately $195,658,000. Goldman Sachs Group Inc. raised its position in Kinder Morgan by 37.5% in the first 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 during the period. Assenagon Asset Management S.A. boosted its stake in shares of Kinder Morgan by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after acquiring an additional 3,037,095 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Kinder Morgan during the 2nd quarter valued at $68,124,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was 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 approximately $6,189,005.34. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard D. Kinder acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $25.96 per share, with a total value of $25,960,000.00. Following the acquisition, the chairman owned 246,212,353 shares in the company, valued at $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 1,004,287 shares of company stock valued at $26,072,463 and sold 18,498 shares valued at $506,660. 12.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on KMI shares. Wolfe Research raised Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Friday, July 25th. Scotiabank decreased their price objective on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. 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. Finally, Stifel Nicolaus raised their target price on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average price target of $31.19.

Kinder Morgan Stock Up 0.3%

Shares of KMI opened at $27.03 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. The stock has a market capitalization of $60.14 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.77. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48. The business’s 50 day simple moving average is $27.18 and its 200-day simple moving average is $27.42.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the prior year, the company earned $0.25 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, November 3rd. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

Kinder Morgan Company 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.