Wesbanco Bank Inc. cut its holdings in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,297 shares of the pipeline company’s stock after selling 17,376 shares during the quarter. Wesbanco Bank Inc.’s holdings in Kinder Morgan were worth $4,201,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. Norges Bank purchased a new stake in shares of Kinder Morgan in the 4th quarter worth approximately $1,132,125,000. AQR Capital Management LLC increased its holdings in Kinder Morgan by 431.9% during the third quarter. AQR Capital Management LLC now owns 6,569,082 shares of the pipeline company’s stock valued at $185,971,000 after buying an additional 5,333,986 shares during the period. Merewether Investment Management LP bought a new position in Kinder Morgan in the second quarter worth approximately $138,477,000. Zimmer Partners LP lifted its holdings in Kinder Morgan by 177.8% during the third quarter. Zimmer Partners LP now owns 6,070,100 shares of the pipeline company’s stock worth $171,845,000 after buying an additional 3,885,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Kinder Morgan during the fourth quarter worth $85,364,000. 62.52% of the stock is currently owned by institutional investors.
Insider Transactions at Kinder Morgan
In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 41,743 shares of the company’s stock, valued at approximately $1,312,399.92. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction 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 $5,423,004.42. This trade represents a 3.49% 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. Insiders have sold 23,148 shares of company stock valued at $749,206 in the last ninety days. Corporate insiders own 12.72% of the company’s stock.
Kinder Morgan Trading Up 0.5%
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.55 billion. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Analysts predict that Kinder Morgan, Inc. will post 1.49 EPS for the current year.
Kinder Morgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $0.2975 dividend. The ex-dividend date was Monday, May 4th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.19 annualized dividend and a dividend yield of 3.6%. Kinder Morgan’s dividend payout ratio (DPR) is 79.87%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Zacks Research downgraded Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Scotiabank lifted their target price on Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, March 26th. Jefferies Financial Group decreased their price target on shares of Kinder Morgan from $36.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Finally, Citigroup raised their price target on shares of Kinder Morgan from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 30th. Eight analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Kinder Morgan presently has an average rating of “Hold” and an average target price of $34.71.
Get Our Latest Stock Analysis on Kinder Morgan
Kinder Morgan Profile
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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