Norges Bank Purchases Shares of 39,551,103 Kinder Morgan, Inc. $KMI

Norges Bank purchased a new position in Kinder Morgan, Inc. (NYSE:KMI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,551,103 shares of the pipeline company’s stock, valued at approximately $1,162,802,000. Norges Bank owned approximately 1.78% of Kinder Morgan as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Royal Bank Of Canada upped their price objective on Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Jefferies Financial Group assumed coverage on Kinder Morgan in a research note on Thursday, October 9th. They set a “hold” rating and a $30.00 target price on the stock. Scotiabank lowered their price target on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $27.16 on Friday. The firm has a market cap of $60.42 billion, a PE ratio of 22.26, a PEG ratio of 3.01 and a beta of 0.77. The stock has a 50 day moving average of $27.12 and a 200 day moving average of $27.41. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. Kinder Morgan, Inc. has a 12 month low of $23.94 and a 12 month high of $31.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.98 billion. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were given a dividend of $0.2925 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.17 annualized dividend and a yield of 4.3%. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, Chairman Richard D. Kinder bought 1,000,000 shares of Kinder Morgan 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 acquisition, the chairman directly owned 246,212,353 shares in the company, valued at approximately $6,391,672,683.88. This represents a 0.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy W. Chronis bought 3,800 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 39,051 shares in the company, valued at approximately $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. In the last three months, insiders acquired 1,004,287 shares of company stock valued at $26,072,463 and sold 18,498 shares valued at $506,660. Corporate insiders own 12.73% of the company’s stock.

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.