Lake Street Financial LLC Acquires 17,704 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Financial News Live · Aug 6, 2022 05:11

Lake Street Financial LLC lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 170,136 shares of the pipeline company's stock after purchasing an additional 17,704 shares during the period. Lake Street Financial LLC's holdings in Kinder Morgan were worth $3,217,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Lincoln National Corp grew its holdings in shares of Kinder Morgan by 7.6% during the first quarter. Lincoln National Corp now owns 38,729 shares of the pipeline company's stock worth $733,000 after purchasing an additional 2,744 shares during the last quarter. WealthTrust Axiom LLC boosted its holdings in Kinder Morgan by 0.5% in the first quarter. WealthTrust Axiom LLC now owns 469,023 shares of the pipeline company's stock valued at $8,869,000 after acquiring an additional 2,115 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Kinder Morgan by 2.3% in the first quarter. Brown Advisory Inc. now owns 1,171,194 shares of the pipeline company's stock valued at $21,524,000 after acquiring an additional 26,345 shares during the last quarter. Checchi Capital Advisers LLC bought a new position in Kinder Morgan in the first quarter valued at about $246,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Kinder Morgan by 9.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,070,517 shares of the pipeline company's stock valued at $20,243,000 after acquiring an additional 95,362 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

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Kinder Morgan Stock Up 0.7 %

Shares of NYSE KMI traded up $0.12 during mid-day trading on Friday, reaching $17.42. 318,562 shares of the company's stock were exchanged, compared to its average volume of 14,630,062. The firm has a market capitalization of $39.25 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 4.95 and a beta of 0.94. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $17.71 and a 200 day simple moving average of $18.06. Kinder Morgan, Inc. has a twelve month low of $15.01 and a twelve month high of $20.20.

Kinder Morgan (NYSE:KMI – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27. Kinder Morgan had a return on equity of 7.82% and a net margin of 13.76%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $0.23 earnings per share. Kinder Morgan's revenue was up 63.5% compared to the same quarter last year. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.2 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend is Friday, July 29th. Kinder Morgan's dividend payout ratio is presently 103.74%.

Analyst Ratings Changes

Several equities analysts recently issued reports on KMI shares. Barclays decreased their price target on Kinder Morgan from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 20th. US Capital Advisors reissued a "hold" rating on shares of Kinder Morgan in a research note on Wednesday, June 1st. Wolfe Research lowered Kinder Morgan from a "peer perform" rating to an "underperform" rating and increased their target price for the company from $17.00 to $18.00 in a research note on Monday, April 11th. TD Securities increased their target price on Kinder Morgan from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, April 21st. Finally, Mizuho increased their target price on Kinder Morgan from $21.00 to $22.00 in a research note on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of "Hold" and a consensus target price of $21.14.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 1,500 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $19.21, for a total value of $28,815.00. Following the sale, the vice president now owns 31,719 shares of the company's stock, valued at approximately $609,321.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kinder Morgan news, VP John W. Schlosser sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the transaction, the vice president now directly owns 28,719 shares in the company, valued at $516,942. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $19.21, for a total value of $28,815.00. Following the completion of the transaction, the vice president now owns 31,719 shares of the company's stock, valued at $609,321.99. The disclosure for this sale can be found here. 14.22% of the stock is owned by insiders.

Kinder Morgan Profile

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Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground 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 liquefaction and storage facilities.

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