Assenagon Asset Management S.A. Sells 2,424,979 Shares of Kinder Morgan, Inc. $KMI

Assenagon Asset Management S.A. reduced its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 28.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,080,351 shares of the pipeline company’s stock after selling 2,424,979 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Kinder Morgan were worth $172,135,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Kinder Morgan by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock valued at $6,092,253,000 after purchasing an additional 3,070,609 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kinder Morgan by 1.2% in the second quarter. Geode Capital Management LLC now owns 51,848,863 shares of the pipeline company’s stock valued at $1,518,195,000 after purchasing an additional 599,152 shares during the period. Norges Bank acquired a new stake in shares of Kinder Morgan during the 2nd quarter worth about $1,162,802,000. Orbis Allan Gray Ltd lifted its stake in shares of Kinder Morgan by 3.1% during the 2nd quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock worth $665,474,000 after buying an additional 670,856 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Kinder Morgan by 2.8% during the 2nd quarter. Invesco Ltd. now owns 21,949,329 shares of the pipeline company’s stock worth $645,310,000 after buying an additional 603,197 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on KMI shares. Mizuho lowered their price target on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Royal Bank Of Canada increased their target price on Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Stifel Nicolaus increased their price objective on Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on shares of Kinder Morgan in a research note on Thursday, October 9th. They issued a “hold” rating and a $30.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Insider Buying and Selling at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $28.17, for a total transaction of $173,696.22. Following the sale, the vice president directly owned 219,702 shares of the company’s stock, valued at approximately $6,189,005.34. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard D. Kinder acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $25.96 per share, with a total value of $25,960,000.00. Following the purchase, the chairman owned 246,212,353 shares in the company, valued at $6,391,672,683.88. The trade was a 0.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 1,004,287 shares of company stock worth $26,072,463 and have sold 18,498 shares worth $511,655. Company insiders own 12.73% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $26.34 on Wednesday. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48. The stock has a market capitalization of $58.59 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.63 and a quick ratio of 0.49. The company’s 50 day simple moving average is $26.89 and its 200 day simple moving average is $27.34.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $4.15 billion during 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.2925 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.17 annualized dividend and a yield of 4.4%. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

About Kinder Morgan

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.