California Public Employees Retirement System Reduces Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• CalPERS reduced its Kinder Morgan stake by 7.8% in the first quarter, selling 372,450 shares and ending with 4.43 million shares valued at about $148.4 million.
• Insider selling also continued, with VP Michael P. Garthwaite and VP John W. Schlosser both selling shares under pre-arranged trading plans; insiders sold 21,598 shares in the last quarter overall.
• Kinder Morgan reported stronger-than-expected results and raised its dividend: Q1 EPS came in at $0.48 versus $0.38 expected, revenue rose 13.8% year over year, and the quarterly dividend increased to $0.2975 per share for a 3.7% yield.

California Public Employees Retirement System cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,426,598 shares of the pipeline company's stock after selling 372,450 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Kinder Morgan worth $148,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KMI. Brighton Jones LLC purchased a new position in shares of Kinder Morgan in the fourth quarter valued at $308,000. Schnieders Capital Management LLC. increased its stake in Kinder Morgan by 11.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 69,444 shares of the pipeline company's stock worth $2,042,000 after buying an additional 7,081 shares during the period. NewEdge Advisors LLC lifted its holdings in Kinder Morgan by 2.1% in the 2nd quarter. NewEdge Advisors LLC now owns 270,876 shares of the pipeline company's stock worth $7,964,000 after buying an additional 5,586 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Kinder Morgan in the 2nd quarter valued at about $1,168,000. Finally, Sei Investments Co. boosted its position in Kinder Morgan by 20.4% in the 2nd quarter. Sei Investments Co. now owns 861,465 shares of the pipeline company's stock valued at $25,328,000 after buying an additional 145,806 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insider Activity at Kinder Morgan

In other news, VP Michael P. Garthwaite sold 1,550 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares in the company, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $32.41, for a total value of $199,840.06. Following the sale, the vice president directly owned 176,540 shares in the company, valued at approximately $5,721,661.40. This represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,598 shares of company stock valued at $693,689. Insiders own 12.72% of the company's stock.

Kinder Morgan Price Performance

KMI opened at $32.29 on Friday. The company has a market capitalization of $71.84 billion, a P/E ratio of 21.67, a PEG ratio of 2.69 and a beta of 0.54. The company has a 50-day moving average of $32.29 and a 200-day moving average of $31.66. 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, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. The business had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.55 billion. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities analysts expect that Kinder Morgan, Inc. will post 1.49 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a $0.2975 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is 79.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial assumed coverage on Kinder Morgan in a research report on Tuesday, March 24th. They set a "hold" rating and a $38.00 target price on the stock. Wolfe Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. Jefferies Financial Group lowered their price objective on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. UBS Group restated a "buy" rating and set a $43.00 price objective on shares of Kinder Morgan in a report on Monday, June 15th. Finally, Scotiabank increased their target price on Kinder Morgan from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, March 26th. Eight equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.

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