Adams Natural Resources Fund Inc. Reduces Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Adams Natural Resources Fund cut its Kinder Morgan stake by 37.1% in the first quarter, selling 255,800 shares and leaving it with 433,292 shares valued at about $14.5 million.
• Kinder Morgan reported strong first-quarter results, with EPS of $0.48 beating estimates and revenue rising 13.8% year over year to $4.83 billion. The company also raised its quarterly dividend to $0.2975 per share, or $1.19 annualized.
• Recent insider activity has leaned toward selling, with executives Michael P. Garthwaite and John W. Schlosser both disposing of shares under pre-arranged trading plans; analysts currently have a Hold consensus on the stock.

Adams Natural Resources Fund Inc. reduced its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 37.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 433,292 shares of the pipeline company's stock after selling 255,800 shares during the quarter. Kinder Morgan makes up about 1.7% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 14th largest position. Adams Natural Resources Fund Inc.'s holdings in Kinder Morgan were worth $14,528,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KMI. Cornerstone Wealth Group LLC increased its holdings in Kinder Morgan by 14.8% during the 1st quarter. Cornerstone Wealth Group LLC now owns 8,768 shares of the pipeline company's stock worth $277,000 after acquiring an additional 1,130 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Kinder Morgan by 4.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,029,519 shares of the pipeline company's stock valued at $68,050,000 after purchasing an additional 95,388 shares during the period. Realta Investment Advisors purchased a new position in shares of Kinder Morgan during the 1st quarter valued at $242,000. Venturi Wealth Management LLC grew its position in shares of Kinder Morgan by 26.9% during the 1st quarter. Venturi Wealth Management LLC now owns 12,012 shares of the pipeline company's stock valued at $403,000 after purchasing an additional 2,545 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Kinder Morgan by 60.5% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,142 shares of the pipeline company's stock worth $407,000 after purchasing an additional 4,578 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the company's stock in a transaction dated 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 represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.83, for a total value of $196,263.78. Following the transaction, 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. Over the last 90 days, insiders sold 23,148 shares of company stock valued at $749,206. Company insiders own 12.72% of the company's stock.

Kinder Morgan Stock Up 0.5%

Shares of NYSE:KMI opened at $33.19 on Friday. Kinder Morgan, Inc. has a 52-week low of $25.60 and a 52-week high of $34.81. The firm has a fifty day moving average of $32.16 and a 200 day moving average of $31.10. 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 quick ratio of 0.41 and a current ratio of 0.52.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results 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. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, research analysts anticipate that Kinder Morgan, Inc. will post 1.49 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.6%. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan's payout ratio is 79.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial assumed coverage on Kinder Morgan in a research note on Tuesday, March 24th. They set a "hold" rating and a $38.00 price objective for the company. Stifel Nicolaus upped their target price on Kinder Morgan from $30.00 to $33.00 and gave the stock a "hold" rating in a research note on Friday, March 13th. Scotiabank raised their price target on Kinder Morgan from $31.00 to $32.00 and gave the company a "sector perform" rating in a report on Thursday, March 26th. Wells Fargo & Company lifted their price target on Kinder Morgan from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, March 13th. Finally, Zacks Research lowered Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Eight equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.71.

Kinder Morgan Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.