New York Life Investment Management LLC Raises Stock Position in Kinder Morgan, Inc. $KMI

New York Life Investment Management LLC lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 289,609 shares of the pipeline company’s stock after acquiring an additional 3,543 shares during the quarter. New York Life Investment Management LLC’s holdings in Kinder Morgan were worth $8,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC grew its position in shares of Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock worth $25,000 after buying an additional 788 shares during the period. JNBA Financial Advisors grew its position in Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 870 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Kinder Morgan by 116.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 562 shares during the last quarter. Wolff Wiese Magana LLC purchased a new stake in Kinder Morgan during the 2nd quarter valued at about $34,000. Finally, Clearstead Trust LLC purchased a new stake in Kinder Morgan during the 1st quarter valued at about $40,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kinder Morgan

In other news, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Chairman Richard D. Kinder acquired 1,000,000 shares of the stock in a transaction dated Monday, October 27th. The stock was acquired at an average price of $25.96 per share, for a total transaction of $25,960,000.00. Following the purchase, the chairman directly owned 246,212,353 shares in the company, valued at approximately $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 134,174 shares of company stock worth $3,727,678. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan Price Performance

KMI opened at $26.11 on Wednesday. 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 P/E ratio of 21.40, a P/E/G ratio of 3.03 and a beta of 0.78. The company’s 50-day simple moving average is $27.27 and its two-hundred day simple moving average is $27.45. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $31.48.

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

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.2925 dividend. 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 95.90%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KMI. Wells Fargo & Company increased their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Cowen began coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating on the stock. BMO Capital Markets began coverage on shares of Kinder Morgan in a research report on Friday, September 19th. They set an “outperform” rating and a $32.00 price objective on the stock. Wolfe Research raised shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Friday, July 25th. Finally, Morgan Stanley set a $30.00 target price on shares of Kinder Morgan in a research note on Thursday, October 9th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

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.