Cherokee Insurance Co Purchases New Position in Kinder Morgan, Inc. $KMI

Cherokee Insurance Co purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 45,000 shares of the pipeline company’s stock, valued at approximately $1,323,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LFA Lugano Financial Advisors SA bought a new stake in Kinder Morgan during the second quarter worth $26,000. Cranbrook Wealth Management LLC boosted its holdings in Kinder Morgan by 116.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 562 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Kinder Morgan in the 2nd quarter worth $34,000. Clearstead Trust LLC purchased a new stake in shares of Kinder Morgan in the first quarter valued at about $40,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $46,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KMI has been the subject of a number of recent analyst reports. Morgan Stanley set a $30.00 price objective on shares of Kinder Morgan in a research report on Thursday, October 9th. Wells Fargo & Company upped their target price on Kinder Morgan from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, BMO Capital Markets started coverage on Kinder Morgan in a research report on Friday, September 19th. They set an “outperform” rating and a $32.00 target price for the company. Ten research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $31.19.

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $28.17, for a total value of $173,696.22. Following the sale, the vice president owned 219,702 shares of the company’s stock, valued at $6,189,005.34. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy W. Chronis purchased 3,800 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of $26.23 per share, for a total transaction of $99,674.00. Following the completion of the purchase, the director directly owned 39,051 shares in the company, valued at $1,024,307.73. This represents a 10.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,004,287 shares of company stock worth $26,072,463 and sold 18,498 shares worth $506,660. Corporate insiders own 12.73% of the company’s stock.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $27.03 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $27.18 and a two-hundred day simple moving average of $27.42. Kinder Morgan, Inc. has a 1-year low of $23.94 and a 1-year high of $31.48. The firm has a market cap 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 (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

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