Corebridge Financial Inc. Sells 16,016 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Corebridge Financial Inc. reduced its holdings in Kinder Morgan by 3.2%, owning 477,079 shares valued at $13.61 million.
• Kinder Morgan reported earnings of $0.28 per share, meeting analysts' expectations, with a revenue of $4.04 billion for the quarter.
• The company announced a quarterly dividend of $0.2925 per share, representing a yield of 4.4% and a payout ratio of 95.90%.

Corebridge Financial Inc. lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,079 shares of the pipeline company's stock after selling 16,016 shares during the period. Corebridge Financial Inc.'s holdings in Kinder Morgan were worth $13,611,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth approximately $205,966,000. Goldman Sachs Group Inc. increased its position in shares of Kinder Morgan by 37.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock worth $578,628,000 after purchasing an additional 5,529,065 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Kinder Morgan by 212.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after purchasing an additional 3,718,521 shares during the last quarter. Blackstone Inc. increased its position in shares of Kinder Morgan by 435.0% during the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock worth $119,416,000 after purchasing an additional 3,543,670 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $62,499,000. Institutional investors own 62.52% of the company's stock.

Insider Activity

In other Kinder Morgan news, Director Amy W. Chronis acquired 2,759 shares of the business's stock in a transaction on Monday, July 28th. The shares were acquired at an average price of $27.21 per share, with a total value of $75,072.39. Following the completion of the transaction, the director owned 34,764 shares in the company, valued at approximately $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,842 shares of company stock valued at $3,896,180. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Price Performance

Shares of NYSE:KMI traded down $0.03 during trading on Friday, reaching $26.98. 14,034,535 shares of the company traded hands, compared to its average volume of 15,389,533. The company's 50 day moving average is $27.55 and its two-hundred day moving average is $27.33. The firm has a market capitalization of $59.95 billion, a PE ratio of 22.12, a PEG ratio of 3.41 and a beta of 0.78. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced 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 return on equity of 8.31% and a net margin of 17.06%.The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company earned $0.26 EPS. Kinder Morgan's revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 4.3%. Kinder Morgan's payout ratio is currently 95.90%.

Analyst Upgrades and Downgrades

KMI has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Scotiabank boosted their price target on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Cowen began coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating on the stock. Finally, Morgan Stanley set a $34.00 target price on Kinder Morgan in a report on Monday, July 7th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

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.