Allstate Corp Sells 16,102 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Allstate Corp reduced its stake in Kinder Morgan, Inc. by 26.8%, selling 16,102 shares during the first quarter, leaving them with 43,889 shares valued at approximately $1.25 million.
• Kinder Morgan reported revenue of $4.04 billion in the latest quarter, surpassing expectations, with a net margin of 17.06% and earnings per share (EPS) of $0.28.
• The company recently announced a quarterly dividend of $0.2925 per share, which translates to a 4.4% dividend yield.

Allstate Corp cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 26.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,889 shares of the pipeline company's stock after selling 16,102 shares during the period. Allstate Corp's holdings in Kinder Morgan were worth $1,252,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Kinder Morgan in the fourth quarter worth approximately $308,000. TD Waterhouse Canada Inc. raised its holdings in shares of Kinder Morgan by 9.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 14,876 shares of the pipeline company's stock valued at $408,000 after purchasing an additional 1,248 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Kinder Morgan by 4.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 69,741 shares of the pipeline company's stock valued at $1,911,000 after purchasing an additional 2,802 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Kinder Morgan by 16.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 389,588 shares of the pipeline company's stock valued at $10,675,000 after purchasing an additional 56,147 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $913,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

KMI has been the subject of several research reports. Barclays reissued an "overweight" rating and set a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Wolfe Research raised shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective 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. Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a report on Monday, July 7th. Finally, Scotiabank boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Insiders Place Their Bets

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total value of $171,414.80. Following the completion of the transaction, the vice president directly owned 232,034 shares in the company, valued at $6,450,545.20. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction that occurred on 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. Over the last quarter, insiders sold 139,842 shares of company stock valued at $3,896,180. Insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.17 during trading hours on Thursday, hitting $27.00. 11,838,678 shares of the company's stock traded hands, compared to its average volume of 14,515,223. The business's fifty day moving average price is $27.58 and its two-hundred day moving average price is $27.32. 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 firm has a market capitalization of $59.98 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.37 and a beta of 0.78. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48.

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

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio is presently 95.90%.

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.