First Pacific Advisors LP Grows Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Financial News Live · Nov 10, 2022 04:31

First Pacific Advisors LP increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,525,357 shares of the pipeline company's stock after purchasing an additional 212,683 shares during the period. Kinder Morgan makes up 2.1% of First Pacific Advisors LP's investment portfolio, making the stock its 17th largest holding. First Pacific Advisors LP owned 0.38% of Kinder Morgan worth $142,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Valley Brook Capital Group Inc. raised its holdings in shares of Kinder Morgan by 17.8% during the second quarter. Valley Brook Capital Group Inc. now owns 23,174 shares of the pipeline company's stock valued at $388,000 after purchasing an additional 3,501 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Kinder Morgan by 10.0% during the second quarter. Moors & Cabot Inc. now owns 116,748 shares of the pipeline company's stock valued at $1,957,000 after buying an additional 10,651 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Kinder Morgan by 1.0% during the second quarter. Baird Financial Group Inc. now owns 426,572 shares of the pipeline company's stock valued at $7,149,000 after buying an additional 4,193 shares during the last quarter. TownSquare Capital LLC purchased a new stake in Kinder Morgan during the second quarter valued at approximately $188,000. Finally, Integrated Wealth Concepts LLC increased its holdings in Kinder Morgan by 55.6% during the second quarter. Integrated Wealth Concepts LLC now owns 67,120 shares of the pipeline company's stock valued at $1,125,000 after buying an additional 23,975 shares during the last quarter. 61.12% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, VP John W. Schlosser sold 1,500 shares of the company's stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $18.00, for a total transaction of $27,000.00. Following the completion of the transaction, the vice president now owns 25,719 shares in the company, valued at $462,942. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 4,500 shares of company stock worth $82,755. 12.51% of the stock is owned by insiders.

Kinder Morgan Price Performance

Shares of NYSE:KMI traded down $0.41 during midday trading on Wednesday, reaching $17.90. 280,789 shares of the company were exchanged, compared to its average volume of 17,639,836. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.91. The business's fifty day moving average is $17.66 and its two-hundred day moving average is $18.01. Kinder Morgan, Inc. has a one year low of $15.01 and a one year high of $20.20. The stock has a market cap of $40.23 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 5.28 and a beta of 0.94.

Kinder Morgan (NYSE:KMI – Get Rating) last issued its earnings results on Wednesday, October 19th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.04). Kinder Morgan had a return on equity of 7.97% and a net margin of 13.20%. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the company posted $0.22 EPS. Kinder Morgan's revenue was up 35.4% compared to the same quarter last year. As a group, analysts predict that Kinder Morgan, Inc. will post 1.15 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 28th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.20%. Kinder Morgan's dividend payout ratio is 100.91%.

Analysts Set New Price Targets

KMI has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Kinder Morgan from a "sell" rating to a "neutral" rating and set a $19.00 target price for the company in a report on Wednesday, September 7th. TD Securities reduced their target price on shares of Kinder Morgan from $23.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, October 20th. StockNews.com assumed coverage on shares of Kinder Morgan in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Barclays dropped their price target on shares of Kinder Morgan from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 19th. Finally, Wells Fargo & Company dropped their price target on shares of Kinder Morgan from $20.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.38.

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.