Precedent Wealth Partners LLC Has $2.26 Million Stock Position in Kinder Morgan, Inc. $KMI

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC lifted its stake in shares of Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 788 shares during the period. JNBA Financial Advisors lifted its stake in shares of Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 870 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Kinder Morgan by 116.1% in the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 562 shares in the last quarter. Grove Bank & Trust lifted its stake in Kinder Morgan by 2,913.5% in 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 bought a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $34,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KMI has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating and a $34.00 price objective for the company. Scotiabank reduced 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 report on Friday, September 19th. Morgan Stanley raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company raised 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. Finally, Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Insiders Place Their Bets

In related news, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the sale, the chief financial officer directly owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy W. Chronis purchased 2,759 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average cost of $27.21 per share, with a total value of $75,072.39. Following the completion of the transaction, the director directly owned 34,764 shares in the company, valued at $945,928.44. The trade was a 8.62% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 128,008 shares of company stock worth $3,553,982 in the last three months. 12.73% of the stock is owned by corporate insiders.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $28.50 on Friday. 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, Inc. has a twelve month low of $23.06 and a twelve month high of $31.48. The stock’s 50 day moving average is $27.27 and its 200-day moving average is $27.47. The firm has a market capitalization of $63.32 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 3.32 and a beta of 0.78.

Kinder Morgan (NYSE:KMI) last issued its 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. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the firm earned $0.26 earnings per share. Kinder Morgan’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. Sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a 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%.

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.