Sound Shore Management Inc. CT Sells 1,476,798 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Sound Shore Management cut its Kinder Morgan stake by 43.5% in the first quarter, selling 1,476,798 shares and leaving it with 1,914,405 shares valued at about $64.2 million.
• Kinder Morgan reported strong quarterly results, with EPS of $0.48 versus the $0.38 estimate and revenue of $4.83 billion, up 13.8% from a year earlier.
• The company raised its quarterly dividend to $0.2975 per share, or $1.19 annualized, for a yield of about 3.7%; analysts currently have a consensus Hold rating with an average price target of $34.71.

Sound Shore Management Inc. CT lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 43.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,914,405 shares of the pipeline company's stock after selling 1,476,798 shares during the quarter. Sound Shore Management Inc. CT owned approximately 0.09% of Kinder Morgan worth $64,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Benjamin Edwards Inc. grew its holdings in Kinder Morgan by 14.4% in the fourth quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company's stock worth $12,849,000 after purchasing an additional 59,013 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kinder Morgan by 44.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,135,863 shares of the pipeline company's stock valued at $29,523,000 after purchasing an additional 350,348 shares during the last quarter. TABR Capital Management LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at $6,477,000. Generali Asset Management SPA SGR boosted its position in shares of Kinder Morgan by 47.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 156,764 shares of the pipeline company's stock worth $4,309,000 after purchasing an additional 50,403 shares in the last quarter. Finally, Partners Group Holding AG boosted its position in shares of Kinder Morgan by 45.0% in the 4th quarter. Partners Group Holding AG now owns 291,741 shares of the pipeline company's stock worth $8,020,000 after purchasing an additional 90,593 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

NYSE KMI opened at $32.29 on Monday. The company has a market cap of $71.84 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. The stock's fifty day moving average price is $32.29 and its 200 day moving average price is $31.69. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.10. The company had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.55 billion. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The firm's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, May 4th. Kinder Morgan's dividend payout ratio is presently 79.87%.

Insider Buying and Selling

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the transaction, the vice president directly owned 41,743 shares of the company's stock, valued at approximately $1,312,399.92. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $31.90, for a total transaction of $196,695.40. Following the sale, the vice president owned 164,208 shares of the company's stock, valued at approximately $5,238,235.20. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,598 shares of company stock worth $693,689. 12.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wolfe Research lowered Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. UBS Group restated a "buy" rating and set a $43.00 price target on shares of Kinder Morgan in a research note on Monday, June 15th. Citigroup upped their price objective on shares of Kinder Morgan from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Monday, March 30th. Scotiabank increased their price objective on shares of Kinder Morgan from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Thursday, March 26th. Finally, Zacks Research cut shares of Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Eight investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $34.71.

Kinder Morgan Company 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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