Kinder Morgan, Inc. $KMI Shares Sold by Jennison Associates LLC

by · The Cerbat Gem

Jennison Associates LLC decreased its position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 7.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 972,541 shares of the pipeline company’s stock after selling 79,348 shares during the period. Jennison Associates LLC’s holdings in Kinder Morgan were worth $28,593,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Kinder Morgan by 0.6% in the first quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company’s stock valued at $5,824,367,000 after buying an additional 1,302,794 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Kinder Morgan by 37.5% in 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 raised its position 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 worth $428,018,000 after purchasing an additional 290,653 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $380,145,000 after purchasing an additional 2,144,307 shares during the period. Finally, Amundi raised its position in shares of Kinder Morgan by 8.0% during the first quarter. Amundi now owns 12,762,800 shares of the pipeline company’s stock worth $353,785,000 after purchasing an additional 943,023 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Up 0.6%

NYSE:KMI opened at $26.06 on Friday. The firm has a market capitalization of $57.98 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.01 and a beta of 0.78. Kinder Morgan, Inc. has a 1-year low of $23.94 and a 1-year high of $31.48. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average price is $27.24 and its 200 day moving average price is $27.44.

Kinder Morgan (NYSE:KMI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.98 billion. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.Kinder Morgan’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, November 3rd. Kinder Morgan’s dividend payout ratio is presently 95.90%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the transaction, the chief financial officer directly owned 159,428 shares of the company’s stock, valued at $4,494,275.32. This represents a 20.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard D. Kinder bought 1,000,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was purchased at an average cost of $25.96 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 88,625 shares of company stock valued at $2,454,128. 12.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KMI has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Kinder Morgan in a research report on Thursday, October 9th. They set a “hold” rating and a $30.00 target price on the stock. Wells Fargo & Company boosted their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating and a $34.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Ten 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Get Our Latest Analysis on Kinder Morgan

Kinder Morgan Company Profile

(Free Report)

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.

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