Sonora Investment Management Group LLC Lowers Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Sonora Investment Management Group LLC reduced its stake in Kinder Morgan, Inc. by 7.9% in the second quarter, holding 227,544 shares worth approximately $6.69 million after a sale of 19,545 shares.
• Kinder Morgan announced a quarterly dividend of $0.2925, with a current dividend yield of 4.1% and a payout ratio of 95.90%.
• Analysts maintain a consensus rating of "Moderate Buy" for Kinder Morgan, with a target price averaging $31.06, despite some firms lowering their price targets recently.

Sonora Investment Management Group LLC trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,544 shares of the pipeline company's stock after selling 19,545 shares during the period. Sonora Investment Management Group LLC's holdings in Kinder Morgan were worth $6,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of KMI. Alhambra Investment Management LLC increased its stake in shares of Kinder Morgan by 2.3% in the second quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company's stock worth $468,000 after acquiring an additional 363 shares during the period. Morton Capital Management LLC CA increased its stake in shares of Kinder Morgan by 1.0% in the first quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock worth $1,084,000 after acquiring an additional 377 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of Kinder Morgan by 0.8% in the first quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after acquiring an additional 378 shares during the period. Signaturefd LLC increased its stake in shares of Kinder Morgan by 1.8% in the first quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock worth $601,000 after acquiring an additional 381 shares during the period. Finally, Aspiriant LLC increased its stake in shares of Kinder Morgan by 1.7% in the first quarter. Aspiriant LLC now owns 23,738 shares of the pipeline company's stock worth $677,000 after acquiring an additional 396 shares during the period. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Performance

NYSE:KMI opened at $28.21 on Friday. The company's 50-day moving average price is $27.15 and its 200-day moving average price is $27.43. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The company has a market cap of $62.68 billion, a P/E ratio of 23.12, a P/E/G ratio of 3.31 and a beta of 0.81. Kinder Morgan, Inc. has a twelve month low of $21.61 and a twelve month high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share 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 firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm posted $0.26 earnings per share. The company'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. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KMI. Scotiabank lowered their price target on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, September 19th. TD Cowen began coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 price target on the stock. Morgan Stanley set a $32.00 price target on shares of Kinder Morgan in a report on Thursday, September 18th. Barclays reissued an "overweight" rating and set a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Finally, Wells Fargo & Company increased their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.06.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $27.00, for a total value of $166,482.00. Following the completion of the transaction, the vice president owned 225,868 shares in the company, valued at $6,098,436. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 159,428 shares of the company's stock, valued at $4,494,275.32. This represents a 20.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,008 shares of company stock valued at $3,553,982. 12.73% of the stock is owned by corporate insiders.

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.

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