Eastern Bank Increases Stake in Kinder Morgan, Inc. $KMI

Eastern Bank grew its stake in Kinder Morgan, Inc. (NYSE:KMI) by 35.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 219,903 shares of the pipeline company’s stock after buying an additional 57,416 shares during the quarter. Eastern Bank’s holdings in Kinder Morgan were worth $6,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Alhambra Investment Management LLC boosted its holdings in Kinder Morgan by 2.3% in the second quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company’s stock valued at $468,000 after purchasing an additional 363 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in Kinder Morgan by 4.2% in the second quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company’s stock valued at $276,000 after purchasing an additional 374 shares in the last quarter. Morton Capital Management LLC CA grew its position in shares of Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company’s stock valued at $1,084,000 after buying an additional 377 shares during the last quarter. QTR Family Wealth LLC grew its position in shares of Kinder Morgan by 2.7% in the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company’s stock valued at $423,000 after buying an additional 377 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in shares of Kinder Morgan by 0.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company’s stock valued at $1,396,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In related news, Director Amy W. Chronis bought 2,759 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were acquired at an average price of $27.21 per share, with a total value of $75,072.39. Following the completion of the acquisition, the director owned 34,764 shares in the company, valued at approximately $945,928.44. This trade represents a 8.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $28.17, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. BMO Capital Markets initiated coverage on shares of Kinder Morgan in a research report on Friday, September 19th. They issued an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating and a $34.00 price target on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.88.

Kinder Morgan Trading Down 1.5%

KMI opened at $27.12 on Friday. The firm has a market cap of $60.25 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 3.24 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. The business’s 50 day moving average is $27.26 and its two-hundred day moving average is $27.45. Kinder Morgan, Inc. has a 52 week low of $23.86 and a 52 week high of $31.48.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. Kinder Morgan’s payout ratio is presently 95.90%.

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.