Confluence Investment Management LLC Sells 39,547 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Confluence Investment Management LLC reduced its stake in Kinder Morgan by 1.0%, selling 39,547 shares, resulting in ownership of approximately 3.84 million shares valued at $112.94 million.
• Kinder Morgan's recent earnings report showed revenue of $4.04 billion for the quarter, surpassing consensus estimates, with a net margin of 17.06% and a return on equity of 8.31%.
• Analysts are generally bullish on Kinder Morgan, with an average rating of "Moderate Buy" and a target price of $31.20, reflecting a favorable outlook for the stock's potential performance.

Confluence Investment Management LLC trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,841,416 shares of the pipeline company's stock after selling 39,547 shares during the quarter. Kinder Morgan comprises about 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 25th largest holding. Confluence Investment Management LLC owned approximately 0.17% of Kinder Morgan worth $112,938,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KMI. Nuveen LLC bought a new position in Kinder Morgan during the first quarter worth about $205,966,000. 59 North Capital Management LP bought a new position in Kinder Morgan during the first quarter worth about $195,658,000. Goldman Sachs Group Inc. increased its holdings in Kinder Morgan by 37.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock valued at $578,628,000 after buying an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. increased its holdings in Kinder Morgan by 212.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock valued at $156,009,000 after buying an additional 3,718,521 shares during the period. Finally, Zimmer Partners LP bought a new position in Kinder Morgan in the 4th quarter valued at about $62,499,000. 62.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

KMI has been the topic of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Scotiabank raised their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. TD Cowen started coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price target on the stock. JPMorgan Chase & Co. raised their price target 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. Finally, Barclays restated an "overweight" rating and issued a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.20.

Kinder Morgan Stock Up 0.0%

NYSE:KMI opened at $27.58 on Friday. The firm's 50 day simple moving average is $27.22 and its 200 day simple moving average is $27.35. 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 one year low of $20.97 and a one year high of $31.48. The company has a market cap of $61.28 billion, a PE ratio of 22.61, a P/E/G ratio of 3.23 and a beta of 0.81.

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

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.2%. Kinder Morgan's payout ratio is 95.90%.

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $27.00, for a total value of $166,482.00. Following the transaction, the vice president owned 225,868 shares in the company, valued at approximately $6,098,436. The trade was a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sital K. Mody sold 45,549 shares of the business's 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. In the last ninety days, insiders have sold 128,008 shares of company stock worth $3,553,982. Company insiders own 12.73% of the company's stock.

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.

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