Comerica Bank Lowers Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Comerica Bank reduced its stake in Kinder Morgan by 11.6%, selling 76,000 shares and holding a total of 579,807 shares valued at approximately $16.54 million.
• The company reported a net margin of 17.06% for the last quarter, with a revenue increase of 13.2% year-over-year, totaling $4.04 billion.
• Kinder Morgan recently announced a quarterly dividend of $0.2925, representing an annualized dividend yield of 4.4% and a payout ratio of 95.90%.

Comerica Bank decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 579,807 shares of the pipeline company's stock after selling 76,000 shares during the period. Comerica Bank's holdings in Kinder Morgan were worth $16,542,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KMI. Synovus Financial Corp grew its stake in shares of Kinder Morgan by 3.2% during the first quarter. Synovus Financial Corp now owns 98,687 shares of the pipeline company's stock valued at $2,816,000 after buying an additional 3,095 shares during the last quarter. ICONIQ Capital LLC grew its stake in shares of Kinder Morgan by 22.0% during the first quarter. ICONIQ Capital LLC now owns 9,259 shares of the pipeline company's stock valued at $264,000 after buying an additional 1,668 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $2,699,000. Quantitative Investment Management LLC grew its stake in shares of Kinder Morgan by 482.6% during the first quarter. Quantitative Investment Management LLC now owns 122,325 shares of the pipeline company's stock valued at $3,489,000 after buying an additional 101,328 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Kinder Morgan by 42.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 10,913 shares of the pipeline company's stock valued at $311,000 after buying an additional 3,258 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insider Activity

In other news, EVP Dax Sanders sold 30,127 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the completion of the transaction, the executive vice president directly owned 292,000 shares in the company, valued at approximately $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total transaction of $171,414.80. Following the transaction, the vice president owned 232,034 shares of the company's stock, valued at $6,450,545.20. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,842 shares of company stock valued at $3,896,180. 12.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Barclays reaffirmed an "overweight" rating and set a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Cowen assumed coverage on Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating on the stock. Wells Fargo & Company raised their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Wolfe Research raised 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. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Kinder Morgan Stock Up 0.6%

Kinder Morgan stock traded up $0.17 during trading hours on Thursday, hitting $27.00. 11,851,714 shares of the stock traded hands, compared to its average volume of 15,541,550. The firm's 50-day moving average price is $27.57 and its two-hundred day moving average price is $27.32. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The company has a market cap of $59.98 billion, a PE ratio of 22.13, a PEG ratio of 3.39 and a beta of 0.78. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48.

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

Kinder Morgan Announces Dividend

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

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.