Precedent Wealth Partners LLC Grows Position in Kinder Morgan, Inc. $KMI

Precedent Wealth Partners LLC lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,841 shares of the pipeline company’s stock after purchasing an additional 7,230 shares during the period. Precedent Wealth Partners LLC’s holdings in Kinder Morgan were worth $2,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. Brighton Jones LLC purchased a new position in shares of Kinder Morgan in the 4th quarter worth about $308,000. Merit Financial Group LLC boosted its holdings in shares of Kinder Morgan by 10.5% in the 1st quarter. Merit Financial Group LLC now owns 71,814 shares of the pipeline company’s stock worth $2,049,000 after buying an additional 6,830 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $415,000. Portside Wealth Group LLC purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $203,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Kinder Morgan by 15.9% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 31,051 shares of the pipeline company’s stock worth $886,000 after buying an additional 4,254 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 1.0%

Shares of Kinder Morgan stock opened at $28.50 on Friday. Kinder Morgan, Inc. has a 12-month low of $23.06 and a 12-month high of $31.48. The company has a market cap of $63.32 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 3.32 and a beta of 0.78. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $27.27 and its 200-day moving average price is $27.47.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, 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 declared 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 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan’s dividend payout ratio is presently 95.90%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KMI. Wolfe Research raised shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Friday, July 25th. TD Cowen initiated coverage on Kinder Morgan in a research note on Monday, July 7th. They set a “buy” rating and a $34.00 price target for the company. Wells Fargo & Company increased their price target on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Scotiabank cut their price target on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $27.00, for a total value of $166,482.00. Following the sale, the vice president directly owned 225,868 shares of the company’s stock, valued at approximately $6,098,436. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,008 shares of company stock valued at $3,553,982. 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.