Equitable Holdings Inc. Reduces Position in Kinder Morgan, Inc. $KMI

Equitable Holdings Inc. decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 17.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 171,802 shares of the pipeline company’s stock after selling 36,247 shares during the quarter. Equitable Holdings Inc.’s holdings in Kinder Morgan were worth $5,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Kinder Morgan by 1.1% in the 2nd quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after purchasing an additional 1,875,143 shares in the last quarter. State Street Corp grew its position in shares of Kinder Morgan by 2.2% during the fourth quarter. State Street Corp now owns 116,860,317 shares of the pipeline company’s stock worth $3,212,490,000 after buying an additional 2,510,601 shares in the last quarter. Bank of America Corp DE grew its position in shares of Kinder Morgan by 1.4% during the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock worth $2,079,477,000 after buying an additional 836,571 shares in the last quarter. Norges Bank bought a new stake in shares of Kinder Morgan in the fourth quarter worth $1,132,125,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kinder Morgan by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,104,829 shares of the pipeline company’s stock valued at $827,582,000 after acquiring an additional 195,088 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Down 1.3%

KMI stock opened at $31.60 on Friday. The firm has a market cap of $70.36 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.50 and a beta of 0.54. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81. The firm has a fifty day moving average price of $32.03 and a two-hundred day moving average price of $32.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 22nd. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Kinder Morgan had a net margin of 19.31% and a return on equity of 10.46%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Research analysts predict that Kinder Morgan, Inc. will post 1.55 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.2975 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.19 dividend on an annualized basis and a yield of 3.8%. Kinder Morgan’s dividend payout ratio (DPR) is currently 76.28%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Wells Fargo & Company upped their target price on shares of Kinder Morgan from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Kinder Morgan in a research report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $43.00 price target on shares of Kinder Morgan in a research note on Monday, June 15th. Finally, Morgan Stanley set a $38.00 price objective on Kinder Morgan in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.50.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.83, for a total value of $196,263.78. Following the sale, the vice president owned 170,374 shares of the company’s stock, valued at approximately $5,423,004.42. This trade represents a 3.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the business’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 value of $48,732.00. Following the transaction, the vice president owned 41,743 shares of the company’s stock, valued at $1,312,399.92. This represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 13,882 shares of company stock valued at $441,691. 12.72% of the stock is currently owned by insiders.

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.