Eagle Global Advisors Increases Stake in Kinder Morgan by 47%

Eagle Global Advisors LLC has significantly increased its investment in Kinder Morgan, Inc. (NYSE: KMI) by acquiring an additional 457,459 shares in the third quarter, marking a remarkable growth of 47.3%. This move has elevated the firm’s total holdings in the pipeline company to 1,423,609 shares, representing approximately 1.5% of its investment portfolio. As of the latest filing with the Securities and Exchange Commission, Eagle Global Advisors’ stake in Kinder Morgan is valued at around $40.3 million.

Several other institutional investors have also made notable adjustments to their positions in Kinder Morgan during the same period. Vanguard Group Inc. increased its holdings by 1.5% in the second quarter, acquiring an additional 3,070,609 shares, bringing its total ownership to 207,219,481 shares, valued at approximately $6.09 billion. Similarly, Geode Capital Management LLC grew its stake by 1.2%, now holding 51,848,863 shares with a total value of $1.52 billion.

Norges Bank entered the picture by acquiring a new position in Kinder Morgan valued at about $1.16 billion. This was complemented by Orbis Allan Gray Ltd, which increased its holdings by 3.1%, now owning 22,635,179 shares worth approximately $665.5 million. Invesco Ltd. also boosted its stake by 2.8%, resulting in ownership of 21,949,329 shares valued at around $645.3 million. Collectively, hedge funds and other institutional investors own approximately 62.52% of Kinder Morgan’s stock.

Recent Insider Transactions

In related developments, the company’s Vice President, John W. Schlosser, sold 6,166 shares on January 5, 2024, at an average price of $27.49, totaling approximately $169,503. This sale decreased Schlosser’s direct ownership to 201,204 shares, valued at about $5.53 million. Conversely, Director Amy W. Chronis purchased 3,800 shares on October 31, 2023, for an average of $26.23 per share, totaling $99,674. Following this transaction, Chronis now owns 39,051 shares valued at approximately $1.02 million.

Over the past 90 days, insiders have collectively purchased 1,004,287 shares valued at approximately $26.07 million while selling 18,498 shares worth around $507,462. Corporate insiders currently hold about 12.73% of Kinder Morgan’s stock.

Stock Performance and Earnings Report

Shares of Kinder Morgan opened at $27.51 on Thursday, reflecting a slight increase of 0.5%. The company’s stock has a 50-day moving average of $27.05 and a 200-day moving average of $27.22. It has experienced a twelve-month low of $23.94 and a high of $31.48.

In its latest earnings report released on October 22, 2023, Kinder Morgan announced earnings per share (EPS) of $0.29, aligning with analysts’ expectations. The company reported a revenue of $4.15 billion, surpassing the anticipated $3.98 billion. This indicates a year-over-year revenue growth of 12.1%. Kinder Morgan has provided guidance for fiscal year 2025, estimating EPS at $1.27.

Additionally, the company declared a quarterly dividend of $0.2925, which was paid on November 17, 2023, to shareholders on record as of November 3. This dividend translates to an annualized rate of $1.17, yielding approximately 4.3%. Kinder Morgan’s current dividend payout ratio stands at 95.90%.

About Kinder Morgan: Kinder Morgan, Inc. (NYSE: KMI) is one of North America’s largest energy infrastructure companies, operating an extensive network of pipelines and terminals. The company focuses on the transportation, storage, and handling of various energy products, including natural gas, crude oil, and refined petroleum products. It offers midstream services essential for producers, refiners, utilities, and industrial customers.