CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $73.92 Million Holdings in Kinder Morgan, Inc. $KMI

Key Points

• CUSHING ASSET MANAGEMENT LP reduced its stake in Kinder Morgan by 12.4% during the second quarter, selling 354,728 shares, which now represent 4.3% of its portfolio.
• Kinder Morgan reported $0.28 earnings per share for the last quarter, meeting expectations, with revenue of $4.04 billion, surpassing analysts' forecasts.
• The company declared a quarterly dividend of $0.2925 per share, resulting in an annualized dividend yield of 4.3% with a payout ratio of approximately 95.90%.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,514,400 shares of the pipeline company's stock after selling 354,728 shares during the quarter. Kinder Morgan comprises about 4.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 9th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.11% of Kinder Morgan worth $73,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KMI. Vanguard Group Inc. boosted its holdings in shares of Kinder Morgan by 0.6% during the first quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company's stock valued at $5,824,367,000 after acquiring an additional 1,302,794 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 worth $578,628,000 after purchasing an additional 5,529,065 shares during the period. Deutsche Bank AG lifted its stake in shares of Kinder Morgan by 2.0% during the 1st quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company's stock worth $428,018,000 after buying an additional 290,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Kinder Morgan by 19.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,324,387 shares of the pipeline company's stock worth $380,145,000 after purchasing an additional 2,144,307 shares during the period. Finally, Amundi increased its holdings in shares of Kinder Morgan by 8.0% during the first quarter. Amundi now owns 12,762,800 shares of the pipeline company's stock worth $353,785,000 after buying an additional 943,023 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the transaction, the chief financial officer owned 159,428 shares of the company's stock, valued at $4,494,275.32. This trade represents a 20.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dax Sanders sold 30,127 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $7,898,600. The trade was a 9.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,008 shares of company stock worth $3,553,982. 12.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a report on Friday, July 25th. Barclays reaffirmed an "overweight" rating and issued a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Wells Fargo & Company raised their target price on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley set a $32.00 price target on shares of Kinder Morgan in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Kinder Morgan presently has an average rating of "Moderate Buy" and an average price target of $31.06.

Kinder Morgan Stock Performance

Shares of NYSE KMI traded down $0.23 during trading hours on Monday, reaching $27.20. The stock had a trading volume of 9,822,571 shares, compared to its average volume of 11,540,258. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The business's fifty day moving average is $27.14 and its two-hundred day moving average is $27.40. Kinder Morgan, Inc. has a twelve month low of $21.61 and a twelve month high of $31.48. The company has a market cap of $60.43 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.22 and a beta of 0.81.

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, 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 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 in the previous year, the firm posted $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

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 dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan's dividend payout ratio is currently 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.