Jennison Associates LLC Makes New Investment in Kinder Morgan, Inc. (NYSE:KMI)

Jennison Associates LLC purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the third quarter, Holdings Channel.com reports. The firm purchased 155,713 shares of the pipeline company’s stock, valued at approximately $3,440,000.

Several other institutional investors have also recently made changes to their positions in KMI. Duquesne Family Office LLC grew its position in Kinder Morgan by 74.0% during the second quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after buying an additional 2,872,665 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Kinder Morgan by 1,849.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock valued at $47,817,000 after acquiring an additional 2,053,612 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Kinder Morgan by 20.6% during the second quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock worth $154,409,000 after purchasing an additional 1,328,082 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Kinder Morgan by 35.3% in the second quarter. Renaissance Technologies LLC now owns 4,550,331 shares of the pipeline company’s stock worth $90,415,000 after purchasing an additional 1,187,200 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in Kinder Morgan in the second quarter valued at approximately $20,575,000. Institutional investors own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KMI shares. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a research note on Friday, October 18th. Truist Financial increased their target price on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Finally, UBS Group upped their target price on Kinder Morgan from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.36.

Kinder Morgan Stock Performance

NYSE:KMI opened at $28.49 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $28.81. The firm has a market cap of $63.29 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 3.86 and a beta of 0.91. The business has a 50 day moving average price of $24.56 and a 200-day moving average price of $21.80.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. Kinder Morgan’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Equities research analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.04%. Kinder Morgan’s dividend payout ratio is currently 100.88%.

Insider Activity

In related news, Director Amy W. Chronis purchased 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

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.