Canada Pension Plan Investment Board Trims Holdings in Kinder Morgan, Inc. $KMI

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Kinder Morgan, Inc. by 54.1%, now owning 101,862 shares valued at approximately $2.9 million.
• Goldman Sachs increased its stake in Kinder Morgan by 37.5%, now holding 20.3 million shares valued at around $578 million.
• Kinder Morgan recently declared a quarterly dividend of $0.2925, representing a 4.4% yield and a high dividend payout ratio of 95.90%.

Canada Pension Plan Investment Board cut its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 54.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,862 shares of the pipeline company's stock after selling 120,297 shares during the quarter. Canada Pension Plan Investment Board's holdings in Kinder Morgan were worth $2,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sierra Ocean LLC boosted its stake in Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after purchasing an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Kinder Morgan in the 4th quarter worth about $26,000. Morse Asset Management Inc bought a new position in Kinder Morgan in the 4th quarter worth about $27,000. Heck Capital Advisors LLC bought a new position in Kinder Morgan in the 4th quarter worth about $29,000. Finally, JNBA Financial Advisors boosted its stake in Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after purchasing an additional 870 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KMI. Barclays reiterated an "overweight" rating and issued a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Stifel Nicolaus upped their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Wells Fargo & Company upped their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research note on Friday, July 25th. Finally, TD Cowen began coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.20.

Insider Transactions at Kinder Morgan

In other news, EVP Dax Sanders sold 30,127 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the transaction, the executive vice president owned 292,000 shares in the company, valued at $7,898,600. This represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sital K. Mody sold 45,549 shares of the 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 ninety days, insiders have sold 128,008 shares of company stock worth $3,553,982. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.27 during trading on Tuesday, hitting $26.75. The company's stock had a trading volume of 2,397,282 shares, compared to its average volume of 14,402,817. The company has a 50-day moving average of $27.31 and a 200-day moving average of $27.34. Kinder Morgan, Inc. has a 12 month low of $20.56 and a 12 month high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market cap of $59.43 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 3.12 and a beta of 0.81.

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

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio is 95.90%.

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.