Assenagon Asset Management S.A. lessened its stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 61.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,220,042 shares of the pipeline company’s stock after selling 1,977,900 shares during the period. Assenagon Asset Management S.A.’s holdings in Kinder Morgan were worth $40,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund bought a new stake in shares of Kinder Morgan in the 4th quarter valued at about $27,000. Commonwealth Retirement Investments LLC bought a new position in shares of Kinder Morgan during the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at approximately $28,000. Dorato Capital Management purchased a new stake in Kinder Morgan during the fourth quarter valued at approximately $30,000. Finally, Basepoint Wealth LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at approximately $30,000. 62.52% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president owned 41,743 shares of the company’s stock, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $32.41, for a total value of $199,840.06. Following the sale, the vice president owned 176,540 shares in the company, valued at approximately $5,721,661.40. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,148 shares of company stock valued at $749,206 in the last 90 days. 12.72% of the stock is currently owned by company insiders.
Kinder Morgan Stock Up 1.2%
Kinder Morgan (NYSE:KMI – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.55 billion. During the same quarter last year, the company posted $0.34 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Analysts anticipate that Kinder Morgan, Inc. will post 1.49 EPS for the current year.
Kinder Morgan Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $0.2975 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s payout ratio is currently 79.87%.
Analyst Ratings Changes
Several equities analysts have issued reports on KMI shares. Wells Fargo & Company lifted their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. UBS Group reissued a “buy” rating and issued a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Weiss Ratings downgraded Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Morgan Stanley upped their target price on Kinder Morgan from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Citigroup increased their price target on Kinder Morgan from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 30th. Eight research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of “Hold” and a consensus price target of $34.71.
Read Our Latest Analysis on Kinder Morgan
Kinder Morgan Profile
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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