OLD National Bancorp IN Trims Holdings in Kinder Morgan, Inc. $KMI

Key Points

• OLD National Bancorp IN trimmed its stake in Kinder Morgan by 26.4% in Q4, selling 73,975 shares and leaving 205,720 shares valued at $5.655 million.
• Kinder Morgan beat Q1 estimates (non‑GAAP EPS $0.48 vs. $0.38; revenue $4.83B vs. $4.55B), cited a ~$10.1B project backlog supporting cash flow, set FY2026 EPS guidance at $1.36 (slightly below consensus), and raised the quarterly dividend to $0.2975 (~3.8% yield).
• Market reaction and insider activity are mixed: Wolfe Research downgraded KMI to "hold" while some firms raised targets (consensus rating Hold, $34.20 target), and insiders have both bought (director purchased 3,000 shares) and sold (insiders sold ~29,598 shares in the last 90 days) stock recently.

OLD National Bancorp IN trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 26.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 205,720 shares of the pipeline company's stock after selling 73,975 shares during the period. OLD National Bancorp IN's holdings in Kinder Morgan were worth $5,655,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KMI. Board of the Pension Protection Fund purchased a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $27,000. Dorato Capital Management purchased a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $30,000. Strategic Advocates LLC purchased a new stake in shares of Kinder Morgan in the 3rd quarter valued at approximately $32,000. Lodestone Wealth Management LLC purchased a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $33,000. Finally, Private Wealth Management Group LLC raised its stake in shares of Kinder Morgan by 94.9% in the 3rd quarter. Private Wealth Management Group LLC now owns 1,222 shares of the pipeline company's stock valued at $35,000 after acquiring an additional 595 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William A. Smith acquired 3,000 shares of the company's stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of $29.75 per share, with a total value of $89,250.00. Following the transaction, the director owned 31,087 shares in the company, valued at approximately $924,838.25. This trade represents a 10.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $31.72, for a total transaction of $49,166.00. Following the completion of the sale, the vice president directly owned 44,843 shares in the company, valued at approximately $1,422,419.96. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,598 shares of company stock valued at $952,572. 12.72% of the stock is currently owned by company insiders.

Key Kinder Morgan News

Here are the key news stories impacting Kinder Morgan this week:

• Positive Sentiment: KMI beat Q1 estimates — non‑GAAP EPS $0.48 vs. $0.38 estimate and revenue $4.83B vs. $4.55B — driven by higher natural‑gas pipeline volumes and a ~$10.1B project backlog, supporting near‑term cash flow. Reuters: Q1 profit beat
• Positive Sentiment: Board approved a quarterly dividend of $0.2975 (annualized ~$1.19), a ~1.7% increase implying a ~3.7–3.8% yield; management highlighted dividend support from stable fee‑based cash flows. Press release
• Positive Sentiment: Analyst/commentary pieces emphasize structural tailwinds from rising power demand tied to AI data centers, which could lift gas and power volumes over time, supporting long‑term growth prospects. Barron's: AI power demand
• Positive Sentiment: Strategic growth moves: KMI will acquire the Monument natural gas system (adds takeaway capacity and contracted cash flow) and is partnering on a California gasoline pipeline with Phillips 66 — incremental asset and revenue diversification. OGJ: Monument acquisition
• Neutral Sentiment: Company set FY2026 EPS guidance at $1.36, below the ~$1.39 consensus — management maintained guidance but the slight shortfall tempers the beat. KMI press materials / slide deck
• Neutral Sentiment: Bullish writeups (Seeking Alpha, MarketBeat commentary) argue a longer‑term path to $40 based on volume growth and valuation, but these are opinion pieces rather than changes in formal estimates. Seeking Alpha: Upgrade/long‑term case
• Negative Sentiment: Some broker pushes back: Jefferies trimmed its price target from $36 to $34 and Wolfe Research downgraded KMI from strong‑buy to hold — analyst caution and lower upside targets can pressure the stock. Benzinga (Jefferies note)

Kinder Morgan Price Performance

Shares of KMI opened at $31.70 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $34.73. The firm's 50 day moving average price is $32.92 and its 200 day moving average price is $29.46. The company has a market cap of $70.52 billion, a P/E ratio of 21.27, a PEG ratio of 2.89 and a beta of 0.64. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.93%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same period in the prior year, the firm earned $0.34 EPS. The firm's revenue for the quarter 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, research analysts forecast that Kinder Morgan, Inc. will post 1.4 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be given a $0.2975 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is currently 85.40%.

Analysts Set New Price Targets

KMI has been the topic of a number of research analyst reports. Wolfe Research downgraded shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Barclays reaffirmed an "overweight" rating on shares of Kinder Morgan in a research note on Friday, February 20th. TD Cowen upped their target price on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Citigroup upped their target price on shares of Kinder Morgan from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, March 30th. Finally, Stifel Nicolaus upped their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock a "hold" rating in a research note on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.20.

About Kinder Morgan

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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