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

Geode Capital Management LLC lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 51,848,863 shares of the pipeline company’s stock after acquiring an additional 599,152 shares during the quarter. Geode Capital Management LLC owned 2.33% of Kinder Morgan worth $1,518,195,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KMI. Brighton Jones LLC purchased a new stake in Kinder Morgan during the 4th quarter valued at about $308,000. Bleakley Financial Group LLC grew its holdings in shares of Kinder Morgan by 7.7% in the first quarter. Bleakley Financial Group LLC now owns 30,668 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 2,198 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of 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 last quarter. Signaturefd LLC increased its stake in shares of Kinder Morgan by 1.8% in the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company’s stock worth $601,000 after buying an additional 381 shares during the period. Finally, Apollon Wealth Management LLC increased its stake 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 buying an additional 8,089 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Kinder Morgan in a research note on Thursday, October 9th. They issued a “hold” rating and a $30.00 target price on the stock. BMO Capital Markets began coverage on Kinder Morgan in a research report on Friday, September 19th. They issued an “outperform” rating and a $32.00 price objective on the stock. Stifel Nicolaus upped their target price on Kinder Morgan from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.19.

Kinder Morgan Price Performance

NYSE KMI opened at $27.03 on Thursday. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48. The stock has a 50-day moving average of $27.18 and a 200 day moving average of $27.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.63. The company has a market capitalization of $60.14 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 3.01 and a beta of 0.77.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter 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. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 presently 95.90%.

Insiders Place Their Bets

In other news, Chairman Richard D. Kinder acquired 1,000,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $25.96 per share, for a total transaction of $25,960,000.00. Following the transaction, the chairman directly owned 246,212,353 shares of the company’s stock, valued at approximately $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy W. Chronis purchased 3,800 shares of the business’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $26.23 per share, with a total value of $99,674.00. Following 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. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 1,004,287 shares of company stock worth $26,072,463 and sold 18,498 shares worth $506,660. Company insiders own 12.73% of the company’s stock.

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.