Atlantic Union Bankshares Corp Takes Position in Kinder Morgan, Inc. $KMI

Atlantic Union Bankshares Corp acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) in the second quarter, HoldingsChannel reports. The firm acquired 9,969 shares of the pipeline company’s stock, valued at approximately $293,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new position in Kinder Morgan during the 4th quarter worth $308,000. Cerity Partners LLC grew its position in shares of Kinder Morgan by 1.7% in the 1st quarter. Cerity Partners LLC now owns 777,309 shares of the pipeline company’s stock valued at $22,177,000 after buying an additional 12,797 shares during the last quarter. Applied Capital LLC FL acquired a new stake in shares of Kinder Morgan in the first quarter valued at about $364,000. Arizona State Retirement System raised its position in shares of Kinder Morgan by 5.2% during the first quarter. Arizona State Retirement System now owns 603,008 shares of the pipeline company’s stock worth $17,204,000 after acquiring an additional 29,753 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Kinder Morgan by 22.3% in the first quarter. Stephens Inc. AR now owns 224,907 shares of the pipeline company’s stock worth $6,417,000 after acquiring an additional 40,944 shares during the period. 62.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KMI. Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Scotiabank dropped their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Morgan Stanley set a $30.00 price target on shares of Kinder Morgan in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. lifted 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. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $26.55 on Friday. The business has a 50-day simple moving average of $27.16 and a 200 day simple moving average of $27.42. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.63 and a quick ratio of 0.53. The firm has a market capitalization of $59.07 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 3.01 and a beta of 0.77.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The company’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, research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.2925 per share. The ex-dividend date is Monday, November 3rd. This represents a $1.17 annualized dividend and a yield of 4.4%. Kinder Morgan’s dividend payout ratio is presently 95.90%.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Chairman Richard D. Kinder acquired 1,000,000 shares of Kinder Morgan stock in a transaction dated Monday, October 27th. The stock was purchased at an average cost of $25.96 per share, for a total transaction of $25,960,000.00. Following the completion of the acquisition, the chairman directly owned 246,212,353 shares of the company’s stock, valued at $6,391,672,683.88. This represents a 0.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $28.17, for a total transaction of $173,696.22. Following the completion of the transaction, the vice president directly owned 219,702 shares in the company, valued at approximately $6,189,005.34. The trade was a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 1,004,287 shares of company stock valued at $26,072,463 and sold 42,459 shares valued at $1,155,114. Corporate insiders own 12.73% of the company’s stock.

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.