Punch & Associates Investment Management Inc. Cuts Stake in Kinder Morgan, Inc. $KMI

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Kinder Morgan by 23.8%, selling 126,778 shares and retaining 406,263 shares, which are valued at $11.59 million.
• Several institutional investors, including Sierra Ocean LLC and JNBA Financial Advisors, significantly increased their holdings in Kinder Morgan during the first quarter.
• Kinder Morgan recently reported a 0.28 EPS for the quarter and announced a quarterly dividend of $0.2925 per share, providing a yield of 4.4%.

Punch & Associates Investment Management Inc. lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,263 shares of the pipeline company's stock after selling 126,778 shares during the period. Punch & Associates Investment Management Inc.'s holdings in Kinder Morgan were worth $11,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sierra Ocean LLC increased its stake in shares of Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after purchasing an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $26,000. Morse Asset Management Inc acquired a new position in Kinder Morgan during the fourth quarter worth about $27,000. Heck Capital Advisors LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $29,000. Finally, JNBA Financial Advisors boosted its position in Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after acquiring an additional 870 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KMI shares. Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating on the stock. Scotiabank lifted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.20.

Insider Buying and Selling at Kinder Morgan

In other news, VP Sital K. Mody sold 45,549 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares in the company, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,842 shares of company stock valued at $3,387,500. Insiders own 12.73% of the company's stock.

Kinder Morgan Trading Down 0.5%

NYSE:KMI opened at $26.57 on Friday. The stock has a 50-day simple moving average of $27.37 and a 200-day simple moving average of $27.33. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. The stock has a market cap of $59.04 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.13 and a beta of 0.81.

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

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.2925 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.4%. Kinder Morgan's dividend payout ratio is currently 95.90%.

About Kinder Morgan

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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