CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Reduces Stake in Kinder Morgan, Inc. $KMI

Key Points

• Cushing Asset Management cut its Kinder Morgan stake by 5% in the first quarter, selling 142,700 shares and leaving it with 2.72 million shares worth about $91.3 million.
• Kinder Morgan beat quarterly earnings and revenue estimates, reporting $0.48 EPS on $4.83 billion in revenue, while revenue rose 13.8% year over year.
• The company raised its dividend to $0.2975 per share quarterly, and management and analysts remain mixed, with recent insider sales and a consensus Hold rating.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,722,300 shares of the pipeline company's stock after selling 142,700 shares during the quarter. Kinder Morgan accounts for 4.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 7th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.12% of Kinder Morgan worth $91,279,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in Kinder Morgan by 14.4% during the 4th quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company's stock valued at $12,849,000 after buying an additional 59,013 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kinder Morgan by 44.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,135,863 shares of the pipeline company's stock worth $29,523,000 after buying an additional 350,348 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Kinder Morgan by 112.8% in the 3rd quarter. Groupama Asset Managment now owns 94,715 shares of the pipeline company's stock worth $2,681,000 after buying an additional 50,199 shares during the last quarter. Mirabella Financial Services LLP grew its holdings in shares of Kinder Morgan by 144.7% in the third quarter. Mirabella Financial Services LLP now owns 112,282 shares of the pipeline company's stock worth $3,172,000 after acquiring an additional 66,403 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Kinder Morgan in the third quarter worth $5,634,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $32.07 on Monday. Kinder Morgan, Inc. has a one year low of $25.60 and a one year high of $34.81. The stock's fifty day moving average is $32.18 and its 200 day moving average is $31.31. The stock has a market cap of $71.34 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.67 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.41 and a current ratio of 0.52.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.55 billion. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.Kinder Morgan's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is presently 79.87%.

Insider Buying and Selling

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $32.41, for a total transaction of $199,840.06. Following the transaction, the vice president owned 176,540 shares of the company's stock, valued at $5,721,661.40. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the transaction, the vice president directly owned 41,743 shares in the company, valued at $1,312,399.92. This represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,982 shares of company stock valued at $546,159. 12.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research downgraded Kinder Morgan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Citigroup boosted their price target on Kinder Morgan from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Monday, March 30th. UBS Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Kinder Morgan in a research report on Monday, June 15th. Wolfe Research cut shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. Eight equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $34.71.

About Kinder Morgan

Kinder Morgan NYSE: KMI is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company's assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan's operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.

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