Lord Abbett & CO. LLC trimmed its position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 29.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,225,844 shares of the pipeline company’s stock after selling 1,316,007 shares during the period. Lord Abbett & CO. LLC’s holdings in Kinder Morgan were worth $88,678,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of KMI. Norges Bank acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $1,132,125,000. AQR Capital Management LLC raised its position in shares of Kinder Morgan by 431.9% in the 3rd quarter. AQR Capital Management LLC now owns 6,569,082 shares of the pipeline company’s stock valued at $185,971,000 after acquiring an additional 5,333,986 shares during the period. Merewether Investment Management LP acquired a new stake in shares of Kinder Morgan in the 2nd quarter valued at approximately $138,477,000. Zimmer Partners LP raised its position in shares of Kinder Morgan by 177.8% in the 3rd quarter. Zimmer Partners LP now owns 6,070,100 shares of the pipeline company’s stock valued at $171,845,000 after acquiring an additional 3,885,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $85,364,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Kinder Morgan
In other news, VP Michael P. Garthwaite sold 1,550 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the transaction, the vice president owned 43,293 shares in the company, valued at approximately $1,456,809.45. The trade was a 3.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $32.93, for a total transaction of $203,046.38. Following the sale, the vice president owned 182,706 shares of the company’s stock, valued at approximately $6,016,508.58. This trade represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,148 shares of company stock valued at $752,089 in the last ninety days. 12.72% of the stock is currently owned by insiders.
Kinder Morgan Stock Up 1.6%
Kinder Morgan (NYSE:KMI – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.49 earnings per share for the current fiscal year.
Kinder Morgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $0.2975 dividend. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.19 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan’s payout ratio is currently 79.87%.
Wall Street Analyst Weigh In
KMI has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, March 13th. Weiss Ratings upgraded shares of Kinder Morgan from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Jefferies Financial Group dropped their target price on shares of Kinder Morgan from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Truist Financial started coverage on shares of Kinder Morgan in a report on Tuesday, March 24th. They set a “hold” rating and a $38.00 target price on the stock. Finally, Scotiabank raised their target price on shares of Kinder Morgan from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, March 26th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.20.
Get Our Latest Stock Report on Kinder Morgan
About Kinder Morgan
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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