OLD National Bancorp IN Sells 107,558 Shares of Kinder Morgan, Inc. $KMI

Key Points

• OLD National Bancorp IN cut its Kinder Morgan stake by 52.3% in the first quarter, selling 107,558 shares and leaving it with 98,162 shares valued at about $3.29 million.
• Wall Street remains mixed on KMI: analysts have issued 8 Buy ratings and 11 Hold ratings, with a consensus rating of Hold and an average price target of $34.71.
• Kinder Morgan reported better-than-expected quarterly results, with EPS of $0.48 versus $0.38 expected and revenue of $4.83 billion; it also raised its quarterly dividend to $0.2975 per share.

OLD National Bancorp IN decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 52.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,162 shares of the pipeline company's stock after selling 107,558 shares during the period. OLD National Bancorp IN's holdings in Kinder Morgan were worth $3,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. TD Capital Management LLC raised its position in Kinder Morgan by 36.0% in the 4th quarter. TD Capital Management LLC now owns 1,220 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 323 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Kinder Morgan by 13.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,860 shares of the pipeline company's stock worth $79,000 after purchasing an additional 329 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Kinder Morgan by 4.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 8,445 shares of the pipeline company's stock worth $232,000 after purchasing an additional 333 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of Kinder Morgan by 1.3% in the fourth quarter. Waddell & Associates LLC now owns 26,206 shares of the pipeline company's stock valued at $720,000 after buying an additional 336 shares in the last quarter. Finally, Abbot Financial Management Inc. raised its holdings in shares of Kinder Morgan by 0.8% in the fourth quarter. Abbot Financial Management Inc. now owns 44,707 shares of the pipeline company's stock valued at $1,229,000 after buying an additional 338 shares during the last quarter. Institutional investors own 62.52% of the company's stock.

Analysts Set New Price Targets

KMI has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, March 13th. Weiss Ratings downgraded shares of Kinder Morgan from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday. UBS Group reiterated a "buy" rating and set a $43.00 target price on shares of Kinder Morgan in a research report on Monday, June 15th. The Goldman Sachs Group reissued a "buy" rating on shares of Kinder Morgan in a report on Wednesday, June 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Kinder Morgan from $36.00 to $34.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan currently has a consensus rating of "Hold" and an average price target of $34.71.

Insider Buying and Selling

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction on Tuesday, May 5th. The shares were 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. The trade was a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the sale, the vice president owned 41,743 shares of the company's stock, valued at $1,312,399.92. The trade was a 3.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 Price Performance

Shares of KMI stock opened at $33.19 on Friday. The firm has a market cap of $73.84 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.75 and a beta of 0.54. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. 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 stock has a 50-day moving average price of $32.16 and a 200 day moving average price of $31.10.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results 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. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.55 billion. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The company's revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Research analysts expect that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $0.2975 dividend. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, May 4th. 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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