Centric Wealth Management Acquires 20,193 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Centric Wealth Management has increased its holdings in Kinder Morgan by 37.8%, acquiring an additional 20,193 shares to reach a total of 73,546 shares valued at $2.1 million.
• Kinder Morgan reported a quarterly revenue of $4.04 billion, surpassing analyst expectations of $3.75 billion, with a year-over-year revenue increase of 13.2%.
• The company declared a quarterly dividend of $0.2925 per share, yielding 4.3%, with a payout ratio of 95.90%.

Centric Wealth Management lifted its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 37.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,546 shares of the pipeline company's stock after acquiring an additional 20,193 shares during the period. Centric Wealth Management's holdings in Kinder Morgan were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sierra Ocean LLC raised its holdings in shares of Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 788 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Kinder Morgan in the fourth quarter worth approximately $26,000. Morse Asset Management Inc bought a new stake in Kinder Morgan in the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC bought a new stake in Kinder Morgan in the fourth quarter worth approximately $29,000. Finally, JNBA Financial Advisors boosted its holdings in shares of Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after buying an additional 870 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Stock Down 0.0%

KMI traded down $0.01 during trading on Wednesday, reaching $26.73. The company had a trading volume of 10,191,490 shares, compared to its average volume of 14,499,417. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. Kinder Morgan, Inc. has a 12 month low of $20.56 and a 12 month high of $31.48. The business's fifty day moving average price is $27.49 and its 200 day moving average price is $27.33. The company has a market cap of $59.39 billion, a P/E ratio of 21.91, a PEG ratio of 3.41 and a beta of 0.81.

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 for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The business's 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. Equities analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

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

Analyst Upgrades and Downgrades

KMI has been the subject of several recent analyst reports. Scotiabank upped their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Stifel Nicolaus increased their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Kinder Morgan has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares of the company's stock, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction that occurred on Friday, August 1st. The shares were 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. In the last 90 days, insiders have sold 121,842 shares of company stock valued at $3,387,500. 12.73% of the stock is currently owned by insiders.

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.