Principal Financial Group Inc. Has $75.86 Million Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Principal Financial Group reduced its Kinder Morgan stake by 18.1% in the second quarter, selling 523,365 shares and retaining 2.37 million shares valued at approximately $75.86 million.
• Institutional investors own 62.52% of Kinder Morgan, while analysts maintain a consensus “Hold” rating with an average price target of $35.50.
• Kinder Morgan exceeded quarterly expectations with $0.37 in EPS and $4.48 billion in revenue, and declared a quarterly dividend of $0.2975 per share, equivalent to a 3.6% annualized yield.

Principal Financial Group Inc. cut its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 18.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,372,793 shares of the pipeline company's stock after selling 523,365 shares during the period. Principal Financial Group Inc. owned 0.11% of Kinder Morgan worth $75,858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its stake in Kinder Morgan by 14.4% during the fourth quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company's stock worth $12,849,000 after buying an additional 59,013 shares during the last quarter. Partners Group Holding AG boosted its holdings in Kinder Morgan by 45.0% in the fourth quarter. Partners Group Holding AG now owns 291,741 shares of the pipeline company's stock valued at $8,020,000 after acquiring an additional 90,593 shares during the last quarter. Generali Asset Management SPA SGR grew its position in shares of Kinder Morgan by 47.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 156,764 shares of the pipeline company's stock worth $4,309,000 after buying an additional 50,403 shares during the period. GSA Capital Partners LLP boosted its position in shares of Kinder Morgan by 152.2% in the 4th quarter. GSA Capital Partners LLP now owns 54,683 shares of the pipeline company's stock worth $1,503,000 after purchasing an additional 32,998 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new position in Kinder Morgan during the first quarter valued at approximately $6,412,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KMI shares. Citigroup reaffirmed a "neutral" rating on shares of Kinder Morgan in a research report on Wednesday, July 29th. The Goldman Sachs Group restated a "buy" rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Wells Fargo & Company raised their price objective on Kinder Morgan from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Kinder Morgan in a report on Monday, June 15th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Kinder Morgan in a research report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan presently has a consensus rating of "Hold" and a consensus target price of $35.50.

Insider Activity

In other news, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $31.90, for a total value of $196,695.40. Following the completion of the transaction, the vice president directly owned 164,208 shares of the company's stock, valued at $5,238,235.20. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares in the company, valued at $1,312,399.92. This trade represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,432 shares of company stock valued at $493,849. 12.72% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $32.83 on Friday. The firm has a market cap of $73.09 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.64 and a beta of 0.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36. Kinder Morgan, Inc. has a one year low of $25.60 and a one year high of $34.81. The stock's 50 day moving average is $31.99 and its 200 day moving average is $32.24.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.22 billion. Kinder Morgan had a return on equity of 10.46% and a net margin of 19.31%.The firm's revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.55 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. Kinder Morgan's payout ratio is 76.28%.

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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