Sterling Capital Management LLC lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 42.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 66,618 shares of the pipeline company’s stock after selling 48,835 shares during the period. Sterling Capital Management LLC’s holdings in Kinder Morgan were worth $2,234,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new stake in Kinder Morgan during the fourth quarter worth $27,000. Commonwealth Retirement Investments LLC bought a new position in shares of Kinder Morgan in the 4th quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter worth $28,000. Dorato Capital Management bought a new stake in Kinder Morgan during the fourth quarter valued at about $30,000. Finally, Basepoint Wealth LLC bought a new stake in Kinder Morgan during the fourth quarter valued at about $30,000. 62.52% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Kinder Morgan from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Scotiabank boosted their target price on Kinder Morgan from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 26th. Stifel Nicolaus increased their price target on Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, March 13th. Zacks Research downgraded Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings lowered Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Eight equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.71.
Insider Buying and Selling
In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.83, for a total transaction of $196,263.78. Following the completion of the sale, the vice president directly owned 170,374 shares in the company, valued at approximately $5,423,004.42. The trade was a 3.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares in the company, valued at $1,312,399.92. This trade represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,148 shares of company stock worth $749,206. 12.72% of the stock is owned by insiders.
Kinder Morgan Price Performance
Shares of KMI opened at $33.19 on Monday. The firm has a market capitalization of $73.84 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81. The company’s fifty day moving average price is $32.16 and its 200-day moving average price is $31.12.
Kinder Morgan (NYSE:KMI – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.55 billion. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.49 EPS for the current year.
Kinder Morgan Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan’s dividend payout ratio is presently 79.87%.
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.
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