Natixis Advisors Increases Stake in Kinder Morgan to $21.47 Million
Natixis Advisors LLC has expanded its investment in Kinder Morgan, Inc. (NYSE: KMI), raising its stake by 1.9% during the first quarter of 2023. According to a recent Form 13F filing with the Securities and Exchange Commission, Natixis now holds 752,400 shares of the pipeline company, following the purchase of an additional 14,120 shares. As of the filing date, Natixis Advisors’ stake in Kinder Morgan was valued at approximately $21.47 million.
Several other institutional investors have also adjusted their positions in Kinder Morgan. Notably, Sierra Ocean LLC increased its holdings by an impressive 927.1% in the first quarter, now owning 873 shares worth around $25,000. Similarly, JNBA Financial Advisors raised its stake by 669.2%, bringing its total to 1,000 shares valued at $29,000. Overall, institutional investors and hedge funds collectively hold 62.52% of Kinder Morgan’s stock.
Recent Insider Transactions
In related news, Kinder Morgan saw some notable insider trading activities. On July 28, Director Amy W. Chronis purchased 2,759 shares at an average price of $27.21 each, totaling approximately $75,072.39. This transaction increased her holdings to 34,764 shares, valued at around $945,928.44, representing an 8.62% increase in her position.
Conversely, President Thomas A. Martin sold 18,000 shares on June 4, receiving an average price of $28.26 per share, which amounted to $508,680. Following this sale, Martin’s ownership decreased by 2.28%, leaving him with 771,652 shares valued at approximately $21.81 million. Currently, company insiders own 12.73% of Kinder Morgan’s stock.
Performance and Earnings
As of the latest trading session, Kinder Morgan’s stock opened at $28.09. The company possesses a quick ratio of 0.53, a current ratio of 0.68, and a debt-to-equity ratio of 0.99. With a market capitalization of $62.42 billion, the stock has fluctuated between a twelve-month low of $19.68 and a high of $31.48.
Kinder Morgan recently reported its quarterly earnings on July 16, revealing earnings per share (EPS) of $0.28, aligning with analysts’ consensus estimates. The company recorded revenue of $4.04 billion for the quarter, surpassing the projected $3.75 billion. This represents a 13.2% increase in revenue compared to the same quarter last year, when it earned $0.26 per share. Analysts forecast that Kinder Morgan will achieve an EPS of $1.25 for the current fiscal year.
Dividend Announcement
In addition to these developments, Kinder Morgan declared a quarterly dividend of $0.2925 per share, set to be paid on August 15. Shareholders of record on July 31 will receive this dividend, which translates to an annualized amount of $1.17 and a yield of 4.2%. The company’s dividend payout ratio currently stands at 95.90%.
Kinder Morgan operates as a leading energy infrastructure company in North America, focusing on natural gas pipelines, products pipelines, terminals, and CO2 segments. This diverse operational framework positions Kinder Morgan as a key player in the energy sector.
