Envestnet Asset Management Inc. Acquires 245,962 Shares of Kinder Morgan, Inc. $KMI

Envestnet Asset Management Inc. grew its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.3% in the 2nd quarter, Holdings Channel reports. The fund owned 4,867,834 shares of the pipeline company’s stock after purchasing an additional 245,962 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kinder Morgan were worth $143,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 1,302,794 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 purchasing an additional 5,529,065 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Kinder Morgan by 2.0% in the first quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company’s stock valued at $428,018,000 after purchasing an additional 290,653 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Kinder Morgan by 19.2% in 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 purchasing an additional 2,144,307 shares in the last quarter. Finally, Amundi raised its stake in shares of Kinder Morgan by 8.0% in the first quarter. Amundi now owns 12,762,800 shares of the pipeline company’s stock valued at $353,785,000 after purchasing an additional 943,023 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KMI shares. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Morgan Stanley set a $30.00 price objective on Kinder Morgan in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Wells Fargo & Company increased their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They set a “buy” rating for the company. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average target price of $31.13.

Insider Activity at Kinder Morgan

In other news, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the sale, the chief financial officer owned 159,428 shares in the company, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sital K. Mody sold 45,549 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan Price Performance

Shares of KMI stock opened at $26.11 on Wednesday. The stock’s fifty day moving average is $27.27 and its 200-day moving average is $27.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.63. The stock has a market capitalization of $58.08 billion, a PE ratio of 21.40, a PEG ratio of 3.03 and a beta of 0.78. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Kinder Morgan had a return on equity of 8.57% and a net margin of 16.61%.The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Equities research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

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

Kinder Morgan 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.