Bank of America Corp DE Lowers Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Bank of America reduced its Kinder Morgan stake by 0.9%, selling 562,407 shares and retaining approximately 61.46 million shares valued at $1.96 billion. Institutional investors collectively own 62.52% of KMI.
• Kinder Morgan reported stronger-than-expected quarterly results, with EPS of $0.37 versus the $0.31 consensus estimate and revenue of $4.48 billion, up 10.8% year over year.
• The company maintained a quarterly dividend of $0.2975 per share, equivalent to an annualized $1.19 payout and a 3.9% yield. Analysts’ average rating is “Hold,” with an average price target of $35.67 compared with the stock’s $30.90 opening price.

Bank of America Corp DE trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,455,987 shares of the pipeline company's stock after selling 562,407 shares during the period. Bank of America Corp DE owned approximately 2.76% of Kinder Morgan worth $1,964,748,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Kinder Morgan by 1.1% in the 2nd quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock worth $5,621,421,000 after acquiring an additional 1,875,143 shares during the last quarter. Norges Bank purchased a new stake in Kinder Morgan in the fourth quarter valued at $1,132,125,000. Dimensional Fund Advisors LP lifted its holdings in shares of Kinder Morgan by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company's stock worth $577,998,000 after acquiring an additional 448,130 shares during the last quarter. Amundi increased its stake in Kinder Morgan by 5.8% during the first quarter. Amundi now owns 15,130,700 shares of the pipeline company's stock worth $507,332,000 after purchasing an additional 831,125 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Kinder Morgan by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 12,352,286 shares of the pipeline company's stock worth $414,172,000 after acquiring an additional 65,965 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP John Schlosser sold 6,166 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $31.90, for a total transaction of $196,695.40. Following the transaction, the vice president directly owned 164,208 shares of the company's stock, valued at $5,238,235.20. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.72% of the company's stock.

Kinder Morgan Stock Up 0.1%

KMI stock opened at $30.90 on Tuesday. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81. The firm has a market cap of $68.81 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.17 and a beta of 0.56. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36. The firm has a fifty day moving average price of $31.87 and a two-hundred day moving average price of $32.32.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Kinder Morgan had a return on equity of 10.46% and a net margin of 19.31%.The firm had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a dividend of $0.2975 per share. 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 3.9%. Kinder Morgan's dividend payout ratio (DPR) is presently 76.28%.

Analyst Upgrades and Downgrades

KMI has been the subject of several analyst reports. Zacks Research cut shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Morgan Stanley set a $38.00 price target on Kinder Morgan in a research report on Wednesday, July 29th. UBS Group restated a "buy" rating and issued a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Citigroup reiterated a "neutral" rating on shares of Kinder Morgan in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on Kinder Morgan from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $35.67.

Kinder Morgan Company Profile

Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that owns and operates pipelines, terminals, and storage facilities across North America. Its assets transport and store natural gas, crude oil, refined petroleum products, renewable fuels, and carbon dioxide.

The company's natural gas business supports gathering, processing, transportation, and storage, while its products pipeline network serves refineries, airports, utilities, and other industrial customers. Kinder Morgan also operates bulk and liquids terminals that handle energy products and other commodities, along with carbon dioxide infrastructure used in enhanced oil recovery and related applications.

Founded in 1997, Kinder Morgan has expanded through acquisitions and the development of energy infrastructure in the United States and Canada.

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