Cove Street Capital LLC Has $1.71 Million Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Cove Street Capital LLC significantly reduced its stake in Kinder Morgan, Inc. by 42.7%, resulting in ownership of 59,920 shares valued at approximately $1.71 million.
• Several other institutional investors also adjusted their positions, with 62.52% of Kinder Morgan's stock currently held by such investors.
• Kinder Morgan declared a quarterly dividend of $0.2925 per share, which translates to an annualized dividend yield of 4.4%.

Cove Street Capital LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 42.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,920 shares of the pipeline company's stock after selling 44,601 shares during the period. Kinder Morgan makes up approximately 2.7% of Cove Street Capital LLC's holdings, making the stock its 12th biggest position. Cove Street Capital LLC's holdings in Kinder Morgan were worth $1,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KMI. Westwood Holdings Group Inc. grew its position in Kinder Morgan by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 6,442,093 shares of the pipeline company's stock worth $183,793,000 after buying an additional 794,388 shares in the last quarter. Burney Co. grew its holdings in shares of Kinder Morgan by 133.5% during the 1st quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after purchasing an additional 252,736 shares in the last quarter. Aberdeen Group plc increased its position in shares of Kinder Morgan by 35.2% during the first quarter. Aberdeen Group plc now owns 2,343,165 shares of the pipeline company's stock valued at $66,581,000 after purchasing an additional 609,748 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Kinder Morgan by 402.5% in the first quarter. AdvisorNet Financial Inc now owns 39,393 shares of the pipeline company's stock valued at $1,124,000 after purchasing an additional 31,553 shares in the last quarter. Finally, Siemens Fonds Invest GmbH lifted its position in Kinder Morgan by 127.2% in the fourth quarter. Siemens Fonds Invest GmbH now owns 27,978 shares of the pipeline company's stock worth $767,000 after purchasing an additional 15,662 shares during the period. Institutional investors own 62.52% of the company's stock.

Insider Activity

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 transaction of $814,935.35. Following the sale, the executive vice president directly owned 292,000 shares of the company's stock, valued at $7,898,600. This 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 available through this link. Also, VP Sital K. Mody sold 45,549 shares of the firm's 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. Over the last quarter, insiders have sold 121,842 shares of company stock worth $3,387,500. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

NYSE KMI traded down $0.10 during trading hours on Monday, reaching $26.50. 14,619,072 shares of the company's stock were exchanged, compared to its average volume of 14,474,147. The firm has a fifty day moving average of $27.37 and a 200-day moving average of $27.34. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The stock has a market cap of $58.87 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 3.12 and a beta of 0.81. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.2925 per share. 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 dividend payout ratio is currently 95.90%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TD Cowen initiated coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 price target on the stock. Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. Barclays reaffirmed an "overweight" rating and set a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Scotiabank increased their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company boosted their price target on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.