DNB Asset Management AS Trims Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• DNB Asset Management AS cut its Kinder Morgan stake by 31.6% in the fourth quarter, leaving it with 412,005 shares worth about $11.3 million.
• Kinder Morgan reported stronger-than-expected quarterly results, posting EPS of $0.48 versus the $0.38 estimate and revenue of $4.83 billion, up 13.8% year over year.
• The company raised its quarterly dividend to $0.2975 per share, implying an annualized yield of about 3.5%; analysts currently rate the stock Moderate Buy with an average price target of $34.20.

DNB Asset Management AS trimmed its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 412,005 shares of the pipeline company's stock after selling 190,083 shares during the period. DNB Asset Management AS's holdings in Kinder Morgan were worth $11,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in Kinder Morgan in the fourth quarter worth $27,000. Dorato Capital Management purchased a new stake in Kinder Morgan in the fourth quarter worth $30,000. Strategic Advocates LLC purchased a new stake in Kinder Morgan in the third quarter worth $32,000. Torren Management LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter worth $32,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter worth $33,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on KMI. Scotiabank increased their target price on Kinder Morgan from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 26th. TD Cowen increased their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Truist Financial began coverage on Kinder Morgan in a research note on Tuesday, March 24th. They issued a "hold" rating and a $38.00 target price on the stock. Jefferies Financial Group cut their target price on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Finally, Citigroup increased their target price on Kinder Morgan from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.20.

Kinder Morgan Trading Down 0.0%

Shares of NYSE:KMI opened at $33.63 on Monday. The company has a market cap of $74.81 billion, a P/E ratio of 22.57, a PEG ratio of 2.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.73. The stock's fifty day moving average price is $32.73 and its 200-day moving average price is $29.97.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. The firm 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%.The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $0.2975 dividend. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan's dividend payout ratio is currently 79.87%.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP Anthony B. Ashley sold 8,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $31.95, for a total value of $255,600.00. Following the transaction, the vice president owned 100,146 shares of the company's stock, valued at approximately $3,199,664.70. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael P. Garthwaite sold 1,550 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $31.72, for a total value of $49,166.00. Following the completion of the transaction, the vice president directly owned 44,843 shares in the company, valued at $1,422,419.96. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 29,598 shares of company stock valued at $966,877. 12.72% of the stock is owned by company insiders.

Kinder Morgan Profile

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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