Resona Asset Management Co. Ltd. Purchases 35,038 Shares of Kinder Morgan, Inc. $KMI

Resona Asset Management Co. Ltd. raised its position in Kinder Morgan, Inc. (NYSE:KMI) by 5.7% during the second quarter, Holdings Channel.com reports. The fund owned 653,118 shares of the pipeline company’s stock after purchasing an additional 35,038 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Kinder Morgan were worth $19,160,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Kinder Morgan by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company’s stock valued at $5,824,367,000 after purchasing an additional 1,302,794 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Kinder Morgan by 37.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock valued at $578,628,000 after buying an additional 5,529,065 shares during the period. Deutsche Bank AG increased its stake in shares of Kinder Morgan by 2.0% during the first quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company’s stock valued at $428,018,000 after buying an additional 290,653 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kinder Morgan by 19.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,324,387 shares of the pipeline company’s stock valued at $380,145,000 after acquiring an additional 2,144,307 shares in the last quarter. Finally, Amundi lifted its stake in Kinder Morgan by 8.0% in the first quarter. Amundi now owns 12,762,800 shares of the pipeline company’s stock worth $353,785,000 after acquiring an additional 943,023 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Kinder Morgan in a research report on Thursday, October 9th. They set a “hold” rating and a $30.00 price objective on the stock. Morgan Stanley set a $30.00 target price on shares of Kinder Morgan in a research note on Thursday, October 9th. Wolfe Research raised shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Friday, July 25th. 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 report on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and a consensus target price of $31.13.

Insider Buying and Selling

In related news, Director Amy W. Chronis bought 3,800 shares of the company’s stock in a transaction on Friday, October 31st. The shares were acquired at an average cost of $26.23 per share, with a total value of $99,674.00. Following the completion of the acquisition, the director owned 39,051 shares of the company’s stock, valued at $1,024,307.73. The trade was 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 this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction 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 transaction, the vice president owned 219,702 shares of the company’s stock, valued at $6,189,005.34. The trade was a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 1,004,287 shares of company stock worth $26,072,463 and have sold 42,459 shares worth $1,155,114. 12.73% of the stock is owned by insiders.

Kinder Morgan Stock Up 0.9%

Shares of Kinder Morgan stock opened at $26.15 on Friday. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48. The firm has a market cap of $58.18 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 3.01 and a beta of 0.77. The company has a 50-day moving average of $27.17 and a 200 day moving average of $27.40. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.63 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business’s revenue 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, sell-side 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. Investors of record on Monday, November 3rd will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, November 3rd. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

Kinder Morgan Company 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.