Price T Rowe Associates Inc. MD Cuts Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Price T Rowe Associates Inc. significantly reduced its stake in Kinder Morgan, selling 8,835,814 shares and lowering its holdings by 63.2% in the first quarter.
• Kinder Morgan's quarterly revenue rose 13.2% year-over-year to $4.04 billion, meeting profit estimates with an EPS of $0.28.
• The company announced a quarterly dividend of $0.2925 per share, reflecting a 4.4% dividend yield, and has a high dividend payout ratio of 95.90%.

Price T Rowe Associates Inc. MD lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 63.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,134,669 shares of the pipeline company's stock after selling 8,835,814 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.23% of Kinder Morgan worth $146,494,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Sierra Ocean LLC raised its position in shares of Kinder Morgan by 927.1% in the first 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 period. Fourth Dimension Wealth LLC bought a new position in shares of Kinder Morgan in the fourth quarter worth $26,000. Morse Asset Management Inc bought a new position in shares of Kinder Morgan in the fourth quarter worth $27,000. JNBA Financial Advisors lifted its holdings in 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 in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Price Performance

NYSE:KMI traded up $0.17 during midday trading on Thursday, hitting $27.00. The company had a trading volume of 11,851,714 shares, compared to its average volume of 14,550,211. Kinder Morgan, Inc. has a 52-week low of $20.56 and a 52-week high of $31.48. The stock's fifty day moving average price is $27.58 and its 200-day moving average price is $27.32. The company has a market capitalization of $59.98 billion, a PE ratio of 22.13, a P/E/G ratio of 3.37 and a beta of 0.78. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.3%. Kinder Morgan's payout ratio is 95.90%.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total value of $508,680.00. Following the completion of the transaction, the president directly owned 771,652 shares in the company, valued at approximately $21,806,885.52. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the transaction, the vice president owned 232,034 shares of the company's stock, valued at $6,450,545.20. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,842 shares of company stock valued at $3,896,180 in the last three months. 12.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Scotiabank boosted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Cowen started coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen started coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 target price for the company. Finally, Stifel Nicolaus upped their target price on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.20.

Kinder Morgan 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.