Resona Asset Management Co. Ltd. Raises Stake in Kinder Morgan, Inc. $KMI

Resona Asset Management Co. Ltd. raised its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 5.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 653,118 shares of the pipeline company’s stock after buying an additional 35,038 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Kinder Morgan were worth $19,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMI. Atlantic Union Bankshares Corp bought a new position in shares of Kinder Morgan in the second quarter valued at approximately $293,000. First Horizon Advisors Inc. boosted its holdings in Kinder Morgan by 28.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 16,396 shares of the pipeline company’s stock valued at $482,000 after purchasing an additional 3,624 shares during the period. GPS Wealth Strategies Group LLC grew its position in shares of Kinder Morgan by 8.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 18,609 shares of the pipeline company’s stock valued at $547,000 after purchasing an additional 1,397 shares in the last quarter. Oakwell Private Wealth Management LLC increased its holdings in shares of Kinder Morgan by 4.5% in the second quarter. Oakwell Private Wealth Management LLC now owns 13,939 shares of the pipeline company’s stock worth $410,000 after purchasing an additional 597 shares during the period. Finally, Prosperity Consulting Group LLC increased its holdings in shares of Kinder Morgan by 4.3% in the second quarter. Prosperity Consulting Group LLC now owns 15,501 shares of the pipeline company’s stock worth $456,000 after purchasing an additional 645 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $26.15 on Friday. The stock has a market cap of $58.18 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 3.01 and a beta of 0.77. 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 1-year low of $23.94 and a 1-year high of $31.48. The stock’s 50-day moving average is $27.17 and its 200 day moving average is $27.40.

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

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.17 annualized dividend and a dividend yield of 4.5%. Kinder Morgan’s dividend payout ratio (DPR) is currently 95.90%.

Insider Buying and Selling at Kinder Morgan

In related news, Chairman Richard D. Kinder bought 1,000,000 shares of the stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $25.96 per share, with a total value of $25,960,000.00. Following the purchase, the chairman owned 246,212,353 shares in the company, valued at approximately $6,391,672,683.88. The trade was a 0.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $28.17, for a total value of $173,696.22. Following the transaction, the vice president owned 219,702 shares in the company, valued at approximately $6,189,005.34. The trade was a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 1,004,287 shares of company stock valued at $26,072,463 and have sold 42,459 shares valued at $1,155,114. Company insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KMI. Scotiabank dropped their price objective 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. BMO Capital Markets started coverage on Kinder Morgan in a research report on Friday, September 19th. They set an “outperform” rating and a $32.00 price target for the company. Morgan Stanley set a $30.00 price objective on Kinder Morgan in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Wolfe Research upgraded shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Ten analysts have rated the stock with a Buy rating and eight have assigned 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 target price of $31.13.

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.