Eastern Bank Grows Holdings in Kinder Morgan, Inc. $KMI

Eastern Bank increased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.8% in the 2nd quarter, Holdings Channel reports. The fund owned 785,654 shares of the pipeline company’s stock after buying an additional 43,258 shares during the quarter. Eastern Bank’s holdings in Kinder Morgan were worth $25,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Militia Capital Management LLC purchased a new position in Kinder Morgan during the first quarter valued at $2,890,000. S&A Financial Services Inc. purchased a new stake in shares of Kinder Morgan in the first quarter worth $319,000. Robinswood Financial LLC bought a new position in shares of Kinder Morgan during the first quarter valued at $34,000. Pine Valley Investments Ltd Liability Co raised its position in shares of Kinder Morgan by 1.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 30,134 shares of the pipeline company’s stock worth $1,010,000 after purchasing an additional 454 shares during the last quarter. Finally, Farmers National Bank purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $231,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling

In other news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $31.90, for a total transaction of $196,695.40. Following the completion of the transaction, the vice president owned 164,208 shares in the company, valued at $5,238,235.20. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares in the company, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,432 shares of company stock valued at $493,849. Insiders own 12.72% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the topic of several recent analyst reports. UBS Group reissued a “buy” rating and set a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Morgan Stanley set a $38.00 target price on shares of Kinder Morgan in a report on Wednesday, July 29th. Wolfe Research cut shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Zacks Research cut Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Kinder Morgan in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Hold” and an average price target of $35.50.

Kinder Morgan Stock Down 2.3%

Shares of KMI stock opened at $31.43 on Tuesday. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The company has a 50 day simple moving average of $32.01 and a two-hundred day simple moving average of $32.06. The stock has a market cap of $69.99 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.60 and a beta of 0.54. The company has a current ratio of 0.46, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 22nd. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Kinder Morgan had a return on equity of 10.46% and a net margin of 19.31%.The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the business earned $0.28 earnings per share. Kinder Morgan’s quarterly revenue was up 10.8% compared to the same quarter last year. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. On average, research analysts expect that Kinder Morgan, Inc. will post 1.54 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 3rd. Kinder Morgan’s dividend payout ratio (DPR) is 76.28%.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.