Northern Trust Corp Sells 236,769 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Northern Trust Corp reduced its stake in Kinder Morgan, Inc. by 1.1%, now holding about 20.7 million shares valued at approximately $590.7 million.
• Several institutional investors increased their stakes, with Brooklyn Investment Group and Freestone Capital Holdings boosting theirs by 18.8% and 16.9%, respectively.
• Kinder Morgan recently announced a quarterly dividend of $0.2925, representing an annualized yield of 4.5%, despite a high dividend payout ratio of 95.90%.

Northern Trust Corp reduced its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,706,072 shares of the pipeline company's stock after selling 236,769 shares during the period. Northern Trust Corp owned 0.93% of Kinder Morgan worth $590,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMI. Nuveen LLC acquired a new stake in shares of Kinder Morgan in the 1st quarter valued at $205,966,000. Goldman Sachs Group Inc. increased its stake in shares of Kinder Morgan by 37.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock valued at $578,628,000 after buying an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Kinder Morgan by 212.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock valued at $156,009,000 after buying an additional 3,718,521 shares during the period. Blackstone Inc. increased its stake in shares of Kinder Morgan by 435.0% in the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock valued at $119,416,000 after buying an additional 3,543,670 shares during the period. Finally, Zimmer Partners LP bought a new position in shares of Kinder Morgan in the 4th quarter worth $62,499,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KMI shares. Morgan Stanley set a $34.00 price target on Kinder Morgan in a research report on Monday, July 7th. JPMorgan Chase & Co. raised 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 raised 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. Royal Bank Of Canada raised 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 Tuesday, April 29th. Finally, Wells Fargo & Company raised their price target on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.20.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the sale, the president directly owned 771,652 shares in the company, valued at $21,806,885.52. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dax Sanders sold 30,127 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president owned 292,000 shares in the company, valued at approximately $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,842 shares of company stock valued at $3,896,180. Company insiders own 12.73% of the company's stock.

Kinder Morgan Trading Down 0.6%

KMI stock traded down $0.1520 during midday trading on Friday, hitting $26.6680. 13,028,814 shares of the company's stock were exchanged, compared to its average volume of 14,596,210. The stock's fifty day moving average price is $27.66 and its 200-day moving average price is $27.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The company has a market cap of $59.26 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.78. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48.

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

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 4.4%. Kinder Morgan's payout ratio is currently 95.90%.

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.