Duquesne Family Office LLC Cuts Position in Kinder Morgan, Inc. $KMI

Key Points

• Duquesne Family Office LLC has reduced its position in Kinder Morgan, Inc. by 25.7%, selling 571,185 shares and bringing its total holdings to 1,654,115 shares.
• Research firms have generally given Kinder Morgan a "Moderate Buy" rating, with average price targets ranging from $29.00 to $34.00.
• Insider activity includes the CFO selling 40,000 shares while a director increased their stake, indicating mixed sentiment among company insiders.

Duquesne Family Office LLC reduced its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 25.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,654,115 shares of the pipeline company's stock after selling 571,185 shares during the quarter. Kinder Morgan makes up about 1.5% of Duquesne Family Office LLC's holdings, making the stock its 19th largest position. Duquesne Family Office LLC owned about 0.07% of Kinder Morgan worth $47,192,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KMI. Vanguard Group Inc. grew its position in shares of Kinder Morgan by 0.6% in 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 purchasing an additional 1,302,794 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock valued at $578,628,000 after purchasing an additional 5,529,065 shares in the last quarter. Deutsche Bank AG grew its position in shares of Kinder Morgan by 2.0% in the first quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company's stock valued at $428,018,000 after purchasing an additional 290,653 shares in the last quarter. Amundi increased its holdings in Kinder Morgan by 8.0% during the 1st quarter. Amundi now owns 12,762,800 shares of the pipeline company's stock worth $353,785,000 after acquiring an additional 943,023 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Kinder Morgan by 5.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 10,786,581 shares of the pipeline company's stock worth $307,741,000 after acquiring an additional 553,395 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on KMI. Barclays restated an "overweight" rating and set a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Stifel Nicolaus boosted their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price target for the company. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Friday, July 25th. Finally, Scotiabank increased their target price 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. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Transactions at Kinder Morgan

In other news, EVP Dax Sanders sold 30,127 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.05, for a total value 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. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares in the company, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,008 shares of company stock valued at $3,553,982. Company insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

NYSE:KMI traded up $0.35 during mid-day trading on Tuesday, hitting $26.83. 6,097,897 shares of the company traded hands, compared to its average volume of 14,425,369. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 3.12 and a beta of 0.81. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock's fifty day moving average price is $27.31 and its 200-day moving average price is $27.34. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the business posted $0.26 earnings per share. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio is presently 95.90%.

About Kinder Morgan

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.