Norden Group LLC sells 125,922 shares of Kinder Morgan, Inc. (NYSE:KMI)

VaselineSeptember 10, 2024

0 5 minutes read

Norden Group LLC reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 91.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,528 shares of the pipeline company’s stock after selling 125,922 shares during the quarter. Norden Group LLC’s holdings in Kinder Morgan were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KMI. Vanguard Group Inc. raised its position in Kinder Morgan by 15.8% in the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after buying an additional 27,254,172 shares during the period. Norges Bank bought a new position in shares of Kinder Morgan in the 4th quarter valued at about $409,063,000. Confluence Investment Management LLC purchased a new stake in shares of Kinder Morgan in the 1st quarter worth about $87,627,000. Castle Hook Partners LP boosted its stake in Kinder Morgan by 108.2% in the first quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock worth $143,049,000 after purchasing an additional 4,053,793 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Kinder Morgan by 45.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after purchasing an additional 3,135,457 shares during the period. Institutional investors own 62.52% of the company’s shares.

Kinder Morgan stock performance

Shares of KMI stock opened at $21.12 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28, and a current ratio of 0.37. Kinder Morgan, Inc. it has a 52-week low of $15.89 and a 52-week high of $21.86. The company’s 50-day moving average price is $20.92, and its two-hundred-day moving average price is $19.49. The company has a market cap of $46.87 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 2.94 and a beta of 0.93.

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Kinder Morgan (NYSE:KMI – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company’s revenue was up 2.0% year over year. In the same quarter last year, the company earned $0.24 per share. On average, analysts expect that Kinder Morgan, Inc. to post 1.19 earnings per share for the current fiscal year.

Kinder Morgan announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a dividend of $1.15 on an annualized basis and a dividend yield of 5.45%. Kinder Morgan’s payout ratio is currently 104.55%.

Insider activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,311 shares of company stock valued at $3,121,891. 12.64% of shares are owned by insiders.

Analysts on Wall Street are forecasting an increase

A number of analysts have commented on the stock. Scotiabank raised their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $22.00 in a report on Tuesday , June 4. UBS Group upped their target price on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Barclays upped their target price on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Truist Financial lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $22.20.

Read the latest stock analysis on Kinder Morgan

About Kinder Morgan

(Free Report)

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through natural gas pipelines, product pipelines, terminals and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipelines and storage systems; natural gas collection systems and natural gas processing and treatment facilities; natural gas liquids fractionation facilities and transport systems; and facilities for gasification, liquefaction and storage of liquefied natural gas.