Beacon Financial Group Reduces Stake in Kinder Morgan, Inc. $KMI

Key Points

• Beacon Financial Group has reduced its stake in Kinder Morgan, Inc. by 6.5%, owning 222,644 shares valued at approximately $6.5 million after selling 15,602 shares in the second quarter.
• Kinder Morgan reported a quarterly earnings per share (EPS) of $0.28, meeting analysts' expectations, and had a year-over-year revenue growth of 13.2%, totaling $4.04 billion.
• The company announced a dividend of $0.2925 per share, yielding 4.3%, while its current dividend payout ratio stands at 95.90%.

Beacon Financial Group lowered its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,644 shares of the pipeline company's stock after selling 15,602 shares during the period. Beacon Financial Group's holdings in Kinder Morgan were worth $6,546,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KMI. Morton Capital Management LLC CA lifted its position in shares of Kinder Morgan by 1.0% in the first quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock valued at $1,084,000 after acquiring an additional 377 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of Kinder Morgan by 0.8% in the first quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after purchasing an additional 378 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Kinder Morgan by 1.8% in the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock worth $601,000 after purchasing an additional 381 shares during the last quarter. Aspiriant LLC increased its holdings in shares of Kinder Morgan by 1.7% in the first quarter. Aspiriant LLC now owns 23,738 shares of the pipeline company's stock worth $677,000 after purchasing an additional 396 shares during the last quarter. Finally, Presima Securities ULC increased its holdings in shares of Kinder Morgan by 0.9% in the first quarter. Presima Securities ULC now owns 46,796 shares of the pipeline company's stock worth $1,335,000 after purchasing an additional 396 shares during the last quarter. Institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Down 0.8%

Shares of NYSE KMI opened at $27.37 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The firm has a market capitalization of $60.82 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 3.24 and a beta of 0.81. The stock has a 50 day moving average price of $27.20 and a 200 day moving average price of $27.37. Kinder Morgan, Inc. has a 52-week low of $21.30 and a 52-week high of $31.48.

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

Kinder Morgan Dividend Announcement

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

Analyst Ratings Changes

KMI has been the topic of several research reports. Stifel Nicolaus lifted their target price on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Cowen initiated coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating on the stock. Barclays reaffirmed an "overweight" rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Scotiabank lifted their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Finally, Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares in the company, valued at $4,494,275.32. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. The disclosure for this sale can be found here. Insiders have sold 128,008 shares of company stock valued at $3,553,982 over the last 90 days. Insiders own 12.73% of the company's stock.

Kinder Morgan Company 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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.