Midwest Trust Co Invests $358,000 in Kinder Morgan, Inc. $KMI

Midwest Trust Co purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 12,186 shares of the pipeline company’s stock, valued at approximately $358,000.

Several other hedge funds also recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $26,000. Cranbrook Wealth Management LLC raised its holdings in Kinder Morgan by 116.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after buying an additional 562 shares during the period. Wolff Wiese Magana LLC purchased a new stake in Kinder Morgan in the 2nd quarter valued at about $34,000. Clearstead Trust LLC acquired a new position in Kinder Morgan in the first quarter valued at about $40,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Kinder Morgan during the first quarter worth about $46,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KMI. Wells Fargo & Company boosted their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. BMO Capital Markets started coverage on Kinder Morgan in a research report on Friday, September 19th. They issued an “outperform” rating and a $32.00 target price on the stock. Stifel Nicolaus raised their price target on Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.19.

Kinder Morgan Stock Performance

NYSE:KMI opened at $27.03 on Thursday. The company has a fifty day simple moving average of $27.18 and a two-hundred day simple moving average of $27.42. The company has a market cap of $60.14 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.77. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.98. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $3.98 billion. During the same period last year, the firm earned $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. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. Kinder Morgan’s payout ratio is currently 95.90%.

Insider Buying and Selling

In other news, Director Amy W. Chronis acquired 3,800 shares of the company’s stock in a transaction on Friday, October 31st. The shares were bought 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 approximately $1,024,307.73. This trade represents a 10.78% increase in their position. The purchase 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 firm’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $25.96 per share, with a total value of $25,960,000.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 1,004,287 shares of company stock worth $26,072,463 and have sold 18,498 shares worth $506,660. 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.