Patton Fund Management Inc. Sells 87,783 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Patton Fund Management Inc. has reduced its stake in Kinder Morgan, Inc. by 44.3%, selling 87,783 shares and holding 110,482 shares worth approximately $3.25 million after the sale.
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, with a yield of 4.1%, and a dividend payout ratio of 95.90%.
• JPMorgan Chase & Co. has increased its price target on Kinder Morgan from $30.00 to $32.00, while several analysts maintain a "Moderate Buy" rating for the stock.

Patton Fund Management Inc. reduced its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 44.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,482 shares of the pipeline company's stock after selling 87,783 shares during the period. Patton Fund Management Inc.'s holdings in Kinder Morgan were worth $3,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC raised its position in shares of Kinder Morgan by 927.1% in 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 during the last quarter. JNBA Financial Advisors grew its stake in shares of Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after purchasing an additional 870 shares during the period. Cranbrook Wealth Management LLC grew its stake in Kinder Morgan by 116.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 562 shares during the period. Grove Bank & Trust grew its stake in Kinder Morgan by 2,913.5% in the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 1,078 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Kinder Morgan in the 1st quarter valued at $35,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 1.0%

Shares of KMI stock opened at $28.21 on Friday. The business's fifty day moving average price is $27.15 and its 200 day moving average price is $27.42. Kinder Morgan, Inc. has a 1-year low of $21.61 and a 1-year high of $31.48. The firm has a market capitalization of $62.68 billion, a PE ratio of 23.12, a P/E/G ratio of 3.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

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

Kinder Morgan Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KMI shares. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Scotiabank reduced their price target 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. Barclays restated an "overweight" rating and issued a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of "Moderate Buy" and an average price target of $31.06.

Insider Buying and Selling

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction 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 owned 225,868 shares of the company's stock, valued at approximately $6,098,436. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dax Sanders sold 30,127 shares of the company's stock in a transaction on 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 directly owned 292,000 shares in the company, valued at $7,898,600. This trade represents a 9.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,008 shares of company stock valued at $3,553,982 in the last three months. 12.73% of the stock is owned by insiders.

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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