Gabelli Funds LLC Sells 159,700 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Gabelli Funds LLC reduced its stake in Kinder Morgan, Inc. by 19.1% during Q1, selling 159,700 shares and leaving them with a total of 678,000 shares valued at approximately $19.34 million.
• Several institutional investors, like AQR Capital Management LLC, have significantly increased their holdings, with AQR boosting its position by 93.5% in the last quarter.
• Kinder Morgan has announced a quarterly dividend of $0.2925 per share, translating to an annual yield of 4.4%, as part of its financial strategy, while the company's revenue increased by 13.2% year-over-year.

Gabelli Funds LLC cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 678,000 shares of the pipeline company's stock after selling 159,700 shares during the period. Gabelli Funds LLC's holdings in Kinder Morgan were worth $19,343,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KMI. Nuveen LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth about $205,966,000. Goldman Sachs Group Inc. increased its stake in shares of Kinder Morgan by 37.5% during 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 last quarter. Assenagon Asset Management S.A. increased its stake in shares of Kinder Morgan by 212.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after purchasing an additional 3,718,521 shares during the last quarter. Blackstone Inc. increased its stake in shares of Kinder Morgan by 435.0% during the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock worth $119,416,000 after purchasing an additional 3,543,670 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Kinder Morgan during the 4th quarter worth about $62,499,000. 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 Kinder Morgan stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the transaction, the vice president directly owned 232,034 shares of the company's stock, valued at $6,450,545.20. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,842 shares of company stock worth $3,896,180 over the last 90 days. Insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

NYSE KMI traded down $0.03 during trading on Friday, reaching $26.98. The company's stock had a trading volume of 14,034,535 shares, compared to its average volume of 15,389,533. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $59.95 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 3.41 and a beta of 0.78. Kinder Morgan, Inc. has a 12 month low of $20.56 and a 12 month high of $31.48. The firm has a 50 day moving average price of $27.55 and a 200 day moving average price of $27.33.

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

Kinder Morgan Dividend Announcement

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. 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 95.90%.

Analyst Ratings Changes

KMI has been the topic of several recent analyst reports. Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a research note on Monday, July 7th. Wells Fargo & Company upped their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Stifel Nicolaus upped their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Scotiabank upped their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Finally, TD Cowen initiated coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Kinder Morgan presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

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.