Evergreen Capital Management LLC Decreases Position in Kinder Morgan, Inc. $KMI

Key Points

• Evergreen Capital Management LLC significantly reduced its shareholding in Kinder Morgan, Inc. by 78.3% during the first quarter, leaving them with $1.94 million worth of shares.
• Kinder Morgan's recent quarterly earnings report showed an increase in revenue to $4.04 billion, exceeding analysts' expectations, while the company met earnings per share estimates at $0.28.
• The firm announced a quarterly dividend of $0.2925 per share, resulting in an annual yield of 4.3%, with a high dividend payout ratio of 95.90%.

Evergreen Capital Management LLC lowered its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 78.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,137 shares of the pipeline company's stock after selling 246,107 shares during the period. Evergreen Capital Management LLC's holdings in Kinder Morgan were worth $1,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in 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 in the last quarter. Goldman Sachs Group Inc. raised its position in Kinder Morgan by 37.5% during 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 acquiring an additional 5,529,065 shares in the last quarter. Deutsche Bank AG raised its position in Kinder Morgan by 2.0% during the first quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company's stock valued at $428,018,000 after acquiring an additional 290,653 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Kinder Morgan by 5.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,786,581 shares of the pipeline company's stock worth $307,741,000 after purchasing an additional 553,395 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kinder Morgan by 22.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,195,545 shares of the pipeline company's stock worth $224,556,000 after purchasing an additional 1,512,083 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinder Morgan

In related news, Director Amy W. Chronis bought 2,759 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average price of $27.21 per share, for a total transaction of $75,072.39. Following the acquisition, the director owned 34,764 shares of the company's stock, valued at approximately $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 121,842 shares of company stock worth $3,387,500. Insiders own 12.73% of the company's stock.

Kinder Morgan Price Performance

KMI traded down $0.02 during trading on Thursday, reaching $26.72. The company's stock had a trading volume of 7,660,701 shares, compared to its average volume of 14,454,769. 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 firm has a fifty day simple moving average of $27.46 and a two-hundred day simple moving average of $27.33. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. The company has a market cap of $59.36 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.41 and a beta of 0.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company posted $0.26 EPS. The business's revenue was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, analysts anticipate 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 issued a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KMI shares. JPMorgan Chase & Co. increased their price target on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Scotiabank increased their price target 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. TD Cowen assumed coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price target on the stock. Stifel Nicolaus boosted their price objective on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Finally, Cowen assumed coverage on Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating for the company. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

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.