Royal Bank of Canada Lowers Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Royal Bank of Canada decreased its holdings in Kinder Morgan, Inc. by 17.5%, selling 1,443,137 shares and retaining approximately 0.31% of the company worth $193.5 million.
• Kinder Morgan reported a 13.2% year-over-year increase in quarterly revenue, reaching $4.04 billion, with earnings per share of $0.28 matching analyst estimates.
• The company announced a quarterly dividend of $0.2925, resulting in an annualized payout of $1.17 and a yield of 4.3%.

Royal Bank of Canada lowered its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 17.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,783,599 shares of the pipeline company's stock after selling 1,443,137 shares during the quarter. Royal Bank of Canada owned about 0.31% of Kinder Morgan worth $193,536,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Energy Income Partners LLC lifted its position in Kinder Morgan by 2.2% in the first quarter. Energy Income Partners LLC now owns 6,630,501 shares of the pipeline company's stock valued at $189,168,000 after buying an additional 145,896 shares during the last quarter. Centric Wealth Management lifted its position in Kinder Morgan by 37.8% in the first quarter. Centric Wealth Management now owns 73,546 shares of the pipeline company's stock valued at $2,098,000 after buying an additional 20,193 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Kinder Morgan by 693.7% during the first quarter. Panagora Asset Management Inc. now owns 1,554,267 shares of the pipeline company's stock worth $44,343,000 after purchasing an additional 1,358,446 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Kinder Morgan by 10.7% during the first quarter. Vident Advisory LLC now owns 402,190 shares of the pipeline company's stock worth $11,475,000 after purchasing an additional 38,934 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Kinder Morgan by 1.3% during the first quarter. The Manufacturers Life Insurance Company now owns 3,388,245 shares of the pipeline company's stock worth $96,667,000 after purchasing an additional 43,359 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Stock Down 0.5%

Shares of NYSE:KMI traded down $0.14 on Friday, hitting $26.57. 11,506,688 shares of the company's stock were exchanged, compared to its average volume of 12,436,032. The firm's 50-day moving average is $27.37 and its 200 day moving average is $27.33. The company has a market capitalization of $59.04 billion, a PE ratio of 21.78, a P/E/G ratio of 3.13 and a beta of 0.81. Kinder Morgan, Inc. has a 1-year low of $20.56 and a 1-year high of $31.48. 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 (NYSE:KMI - Get Free Report) last released 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 net margin of 17.06% and a return on equity of 8.31%. The company had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the company earned $0.26 earnings per share. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research report on Monday, July 7th. TD Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price target on the stock. Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating on the stock. Finally, Barclays reissued an "overweight" rating and set a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, EVP Dax Sanders sold 30,127 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the sale, the executive vice president owned 292,000 shares of the company's stock, valued at approximately $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred 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 sale, the vice president directly owned 232,034 shares in the company, valued at approximately $6,450,545.20. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,842 shares of company stock valued at $3,387,500 in the last quarter. Company insiders own 12.73% of the company's stock.

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.