Panagora Asset Management Inc. Lowers Position in Kinder Morgan, Inc. $KMI

Panagora Asset Management Inc. trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 96.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,336 shares of the pipeline company’s stock after selling 1,496,931 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kinder Morgan were worth $1,686,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Kinder Morgan in the 2nd quarter valued at approximately $1,162,802,000. Nuveen LLC acquired a new stake in Kinder Morgan in the 1st quarter valued at approximately $205,966,000. 59 North Capital Management LP acquired a new stake in Kinder Morgan in the 1st quarter valued at approximately $195,658,000. Goldman Sachs Group Inc. raised its position in Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock valued at $578,628,000 after purchasing an additional 5,529,065 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Kinder Morgan by 1.5% during the second quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock worth $6,092,253,000 after purchasing an additional 3,070,609 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Up 2.5%

Shares of NYSE:KMI opened at $27.84 on Friday. The firm’s 50 day moving average price is $27.09 and its 200 day moving average price is $27.40. The stock has a market cap of $61.94 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.39 and a beta of 0.67. Kinder Morgan, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.48. The company has a quick ratio of 0.49, a current ratio of 0.63 and a debt-to-equity ratio of 0.98.

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 net margin of 16.61% and a return on equity of 8.57%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue 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. As a group, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a $0.2925 dividend. The ex-dividend date was Monday, November 3rd. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. Kinder Morgan’s dividend payout ratio (DPR) is currently 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, Director Amy W. Chronis acquired 3,800 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $26.23 per share, with a total value of $99,674.00. Following the transaction, the director owned 39,051 shares in the company, valued at $1,024,307.73. The trade was a 10.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard D. Kinder acquired 1,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was acquired at an average price of $25.96 per share, for a total transaction of $25,960,000.00. Following the acquisition, 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 SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 1,004,287 shares of company stock valued at $26,072,463 and sold 18,498 shares valued at $506,660. 12.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KMI shares. Morgan Stanley set a $30.00 price objective on Kinder Morgan in a report on Thursday, October 9th. Mizuho cut their price target on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Scotiabank lowered their price objective on shares of 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus increased 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. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

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.