Kinder Morgan, Inc. $KMI Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 366,932 shares of the pipeline company’s stock after selling 78,403 shares during the quarter. OLD National Bancorp IN’s holdings in Kinder Morgan were worth $10,788,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Alhambra Investment Management LLC increased its position in shares of Kinder Morgan by 2.3% during the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company’s stock valued at $468,000 after purchasing an additional 363 shares during the period. Morton Capital Management LLC CA increased its position in shares of Kinder Morgan by 1.0% during the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company’s stock valued at $1,084,000 after purchasing an additional 377 shares during the period. QTR Family Wealth LLC grew its holdings in shares of Kinder Morgan by 2.7% in the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 377 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Kinder Morgan by 0.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company’s stock worth $1,396,000 after acquiring an additional 378 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Kinder Morgan by 1.8% in the 1st quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company’s stock worth $601,000 after acquiring an additional 381 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $28.50 on Friday. Kinder Morgan, Inc. has a 1-year low of $23.06 and a 1-year high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $63.32 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 3.35 and a beta of 0.78. The stock’s fifty day simple moving average is $27.27 and its 200-day simple moving average is $27.46.

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

Kinder Morgan Announces Dividend

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

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the transaction, the vice president owned 225,868 shares in the company, valued at $6,098,436. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dax Sanders sold 30,127 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the transaction, the executive vice president owned 292,000 shares in the company, valued at $7,898,600. This trade represents a 9.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,008 shares of company stock valued at $3,553,982. Corporate insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a report on Saturday, September 27th. Cowen initiated coverage on Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Morgan Stanley lifted their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

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.