Fisher Funds Management LTD Sells 97,618 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Fisher Funds Management reduced its Kinder Morgan stake by 7.0% in the first quarter, selling 97,618 shares and leaving it with 1,297,651 shares worth about $43.5 million.
• Kinder Morgan reported better-than-expected Q1 earnings of $0.48 per share on revenue of $4.83 billion, and it raised its quarterly dividend to $0.2975 per share, implying a 3.8% yield.
• Wall Street remains generally positive on KMI, with a consensus “Moderate Buy” rating and an average price target of $34.53, while analysts’ targets range up to $43.00.

Fisher Funds Management LTD trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,297,651 shares of the pipeline company's stock after selling 97,618 shares during the period. Kinder Morgan accounts for approximately 1.3% of Fisher Funds Management LTD's investment portfolio, making the stock its 24th biggest position. Fisher Funds Management LTD owned approximately 0.06% of Kinder Morgan worth $43,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in shares of Kinder Morgan during the 4th quarter worth about $27,000. Commonwealth Retirement Investments LLC bought a new stake in shares of Kinder Morgan in the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Kinder Morgan in the 4th quarter valued at about $28,000. Dorato Capital Management acquired a new stake in Kinder Morgan in the 4th quarter valued at about $30,000. Finally, Basepoint Wealth LLC acquired a new stake in Kinder Morgan in the 4th quarter valued at about $30,000. 62.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $32.41, for a total transaction of $199,840.06. Following the completion of the sale, the vice president owned 176,540 shares of the company's stock, valued at approximately $5,721,661.40. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares of the company's stock, valued at approximately $1,312,399.92. The trade was 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 ninety days, insiders sold 23,148 shares of company stock worth $749,206. Insiders own 12.72% of the company's stock.

Kinder Morgan Trading Down 0.0%

Shares of KMI stock opened at $31.58 on Monday. Kinder Morgan, Inc. has a 12-month low of $25.60 and a 12-month high of $34.81. The company has a market capitalization of $70.27 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54. The firm has a 50 day moving average price of $32.11 and a two-hundred day moving average price of $30.94. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.92.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS 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%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, analysts predict that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a $0.2975 dividend. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date was Monday, May 4th. This represents a $1.19 annualized dividend and a yield of 3.8%. Kinder Morgan's dividend payout ratio is presently 79.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KMI. Scotiabank boosted their price target on Kinder Morgan from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 26th. Mizuho raised their price objective on Kinder Morgan from $31.00 to $37.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Morgan Stanley lifted their target price on Kinder Morgan from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 3rd. Jefferies Financial Group decreased their target price on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group restated a "buy" rating and issued a $43.00 price target on shares of Kinder Morgan in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.53.

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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