Griffin Asset Management Inc. Sells 9,913 Shares of Kinder Morgan, Inc. $KMI

Griffin Asset Management Inc. lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 19.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,907 shares of the pipeline company’s stock after selling 9,913 shares during the period. Griffin Asset Management Inc.’s holdings in Kinder Morgan were worth $1,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KMI. Nuveen LLC bought a new stake in shares of Kinder Morgan during the first quarter valued at approximately $205,966,000. 59 North Capital Management LP bought a new stake in shares of Kinder Morgan during the first quarter valued at approximately $195,658,000. Goldman Sachs Group Inc. raised its stake in Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after buying an additional 5,529,065 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Kinder Morgan by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after buying an additional 3,037,095 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Kinder Morgan in the second quarter worth approximately $68,124,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Barclays reissued an “overweight” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Cowen initiated coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a “buy” rating for the company. BMO Capital Markets initiated coverage on shares of Kinder Morgan in a research note on Friday, September 19th. They issued an “outperform” rating and a $32.00 price objective for the company. Finally, Morgan Stanley set a $30.00 price objective on shares of Kinder Morgan in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Kinder Morgan Price Performance

NYSE KMI opened at $27.12 on Monday. The firm’s fifty day simple moving average is $27.26 and its two-hundred day simple moving average is $27.44. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a 12-month low of $23.86 and a 12-month high of $31.48. The firm has a market capitalization of $60.25 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.19 and a beta of 0.78.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan’s payout ratio is currently 95.90%.

Insider Activity

In other news, EVP Dax Sanders sold 30,127 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the sale, the executive vice president directly owned 292,000 shares of the company’s stock, valued at $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy W. Chronis acquired 2,759 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were bought at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the acquisition, the director directly owned 34,764 shares of the company’s stock, valued at approximately $945,928.44. The trade was a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is owned by corporate insiders.

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.