Kinder Morgan, Inc. $KMI Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lessened its stake in Kinder Morgan, Inc. (NYSE:KMI) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,610 shares of the pipeline company’s stock after selling 3,100 shares during the quarter. Kinder Morgan comprises approximately 2.0% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 18th biggest holding. OLD Point Trust & Financial Services N A’s holdings in Kinder Morgan were worth $5,722,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC boosted its holdings in shares of Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 788 shares during the last quarter. JNBA Financial Advisors boosted its holdings in shares of Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 870 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Kinder Morgan by 116.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 562 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Kinder Morgan by 2,913.5% in the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling

In other news, CFO David Patrick Michels sold 40,000 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,008 shares of company stock worth $3,553,982. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

KMI opened at $28.33 on Wednesday. The company has a 50-day moving average of $27.20 and a 200-day moving average of $27.45. The company has a market capitalization of $62.95 billion, a P/E ratio of 23.22, a PEG ratio of 3.33 and a beta of 0.81. Kinder Morgan, Inc. has a 1-year low of $22.01 and a 1-year high of $31.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 4.1%. Kinder Morgan’s payout ratio is presently 95.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cowen began coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating on the stock. TD Cowen began coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a “buy” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Scotiabank reduced their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Finally, Morgan Stanley set a $32.00 target price on shares of Kinder Morgan in a report on Thursday, September 18th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.06.

Kinder Morgan Profile

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.