Kinder Morgan, Inc. $KMI Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its stake in Kinder Morgan, Inc. by 17.6%, selling 78,403 shares, bringing its total holdings to 366,932 shares worth about $10.79 million.
• Insiders at Kinder Morgan sold 128,008 shares worth approximately $3.55 million over the last quarter, indicating notable trading activity among senior executives.
• Kinder Morgan recently announced a quarterly dividend of $0.2925 per share, translating to an annualized yield of 4.1%.

OLD National Bancorp IN lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 17.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,932 shares of the pipeline company's stock after selling 78,403 shares during the quarter. OLD National Bancorp IN's holdings in Kinder Morgan were worth $10,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KMI. Sierra Ocean LLC grew its stake in Kinder Morgan by 927.1% during the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 788 shares in the last quarter. JNBA Financial Advisors grew its stake in Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares in the last quarter. Cranbrook Wealth Management LLC grew its stake in Kinder Morgan by 116.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 562 shares in the last quarter. Grove Bank & Trust grew its stake in Kinder Morgan by 2,913.5% during the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Wolff Wiese Magana LLC bought a new position in Kinder Morgan during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 62.52% of the company's stock.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the sale, the vice president directly owned 225,868 shares in the company, valued at $6,098,436. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy W. Chronis bought 2,759 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the transaction, the director owned 34,764 shares in the company, valued at $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 128,008 shares of company stock worth $3,553,982 over the last quarter. Insiders own 12.73% of the company's stock.

Kinder Morgan Trading Up 1.0%

Shares of NYSE KMI opened at $28.50 on Friday. The company has a market cap of $63.32 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 3.35 and a beta of 0.78. Kinder Morgan, Inc. has a 12-month low of $23.06 and a 12-month high of $31.48. 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 stock's 50 day simple moving average is $27.27 and its 200 day simple moving average is $27.46.

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

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.1%. The ex-dividend date was Thursday, July 31st. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KMI. Morgan Stanley increased their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday. Scotiabank reduced their target price on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, September 19th. Stifel Nicolaus increased their target price on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Cowen began coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating on the stock. Finally, TD Cowen began coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.25.

Kinder Morgan Company 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.

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