Baxter Bros Inc. Raises Stock Position in Kinder Morgan, Inc. $KMI

Baxter Bros Inc. increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,046 shares of the pipeline company’s stock after purchasing an additional 2,550 shares during the period. Baxter Bros Inc.’s holdings in Kinder Morgan were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC raised its holdings in shares of Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 788 shares during the last quarter. JNBA Financial Advisors grew its position in Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock valued at $29,000 after buying an additional 870 shares during the period. Cranbrook Wealth Management LLC grew its position 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 buying an additional 562 shares during the period. Grove Bank & Trust grew its position in Kinder Morgan by 2,913.5% during the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company’s stock valued at $32,000 after buying an additional 1,078 shares during the period. Finally, Wolff Wiese Magana LLC acquired a new stake in Kinder Morgan during the second quarter valued at $34,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Up 0.5%

Shares of NYSE KMI opened at $28.14 on Thursday. The company’s 50-day simple moving average is $27.29 and its 200-day simple moving average is $27.47. Kinder Morgan, Inc. has a 52-week low of $23.19 and a 52-week high of $31.48. The firm has a market cap of $62.53 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 3.29 and a beta of 0.78. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Equities analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. Kinder Morgan’s payout ratio is presently 95.90%.

Insider Activity

In other Kinder Morgan news, Director Amy W. Chronis purchased 2,759 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the transaction, the director owned 34,764 shares of the company’s stock, valued at $945,928.44. The trade was a 8.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of Kinder Morgan 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. Insiders sold a total of 134,174 shares of company stock valued at $3,727,678 in the last ninety days. 12.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on KMI shares. Cowen started coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $31.25.

About Kinder Morgan

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.