Maryland State Retirement & Pension System Sells 78,665 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Maryland State Retirement & Pension System trimmed its Kinder Morgan stake by 4.1% in the first quarter, selling 78,665 shares and leaving it with 1,863,368 shares valued at about $62.5 million.
• Kinder Morgan reported strong quarterly results, with EPS of $0.48 beating estimates of $0.38 and revenue of $4.83 billion topping expectations; revenue also rose 13.8% year over year.
• The company raised its quarterly dividend to $0.2975 per share, implying an annualized yield of 3.7%, while analysts currently rate the stock a consensus Hold with an average price target of $34.71.

Maryland State Retirement & Pension System reduced its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,863,368 shares of the pipeline company's stock after selling 78,665 shares during the quarter. Kinder Morgan makes up approximately 1.3% of Maryland State Retirement & Pension System's holdings, making the stock its 13th biggest position. Maryland State Retirement & Pension System owned approximately 0.08% of Kinder Morgan worth $62,479,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Kinder Morgan

In other news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total value of $48,732.00. Following the transaction, the vice president directly owned 41,743 shares of the company's stock, valued at $1,312,399.92. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $31.90, for a total transaction of $196,695.40. Following the sale, the vice president owned 164,208 shares of the company's stock, valued at approximately $5,238,235.20. This represents a 3.62% 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. Insiders have sold a total of 23,148 shares of company stock valued at $742,855 in the last ninety days. Insiders own 12.72% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on KMI. UBS Group reiterated a "buy" rating and set a $43.00 target price on shares of Kinder Morgan in a report on Monday, June 15th. Jefferies Financial Group dropped their price objective on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Truist Financial initiated coverage on Kinder Morgan in a report on Tuesday, March 24th. They issued a "hold" rating and a $38.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of Kinder Morgan from $32.00 to $35.00 and gave the company a "sector perform" rating in a research note on Monday, March 30th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Kinder Morgan in a report on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $34.71.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $32.58 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.92. The business's 50 day moving average price is $32.23 and its two-hundred day moving average price is $31.58. The company has a market cap of $72.49 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.54. Kinder Morgan, Inc. has a twelve month low of $25.60 and a twelve month high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The company had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.55 billion. During the same period last year, the firm posted $0.34 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. On average, analysts predict that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 3.7%. Kinder Morgan's dividend payout ratio (DPR) is currently 79.87%.

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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