Kinder Morgan, Inc. $KMI Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Kinder Morgan, Inc. by 6.5%, now holding 670,607 shares valued at approximately $19.1 million.
• Insiders of Kinder Morgan, including VP Sital K. Mody and EVP Dax Sanders, have sold a total of 139,842 shares worth nearly $3.9 million over the last ninety days, indicating notable insider selling activity.
• Kinder Morgan recently announced a quarterly dividend payout of $0.2925 per share, which represents a 4.4% yield and a payout ratio of 95.90%.

State of New Jersey Common Pension Fund D trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,607 shares of the pipeline company's stock after selling 46,590 shares during the period. State of New Jersey Common Pension Fund D's holdings in Kinder Morgan were worth $19,132,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KMI. Sierra Ocean LLC grew its position in shares of Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after buying an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $26,000. Morse Asset Management Inc purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $27,000. Heck Capital Advisors LLC purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $29,000. Finally, JNBA Financial Advisors grew its position in shares of Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after buying an additional 870 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.2270 during trading hours on Thursday, hitting $26.7970. 4,925,810 shares of the stock were exchanged, compared to its average volume of 14,561,813. The company has a market cap of $59.54 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 3.34 and a beta of 0.78. Kinder Morgan, Inc. has a 12-month low of $20.56 and a 12-month high of $31.48. The stock has a 50-day moving average of $27.67 and a 200 day moving average of $27.34. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99.

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 (EPS) for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

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

Insider Activity

In related news, VP Sital K. Mody sold 45,549 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the sale, the vice president owned 232,034 shares of the company's stock, valued at $6,450,545.20. This trade represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock valued at $3,896,180 over the last ninety days. 12.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cowen assumed coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating for the company. Barclays reiterated an "overweight" rating and set a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. 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 note on Monday, July 28th. TD Cowen assumed coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 price target for the company. Finally, Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research note on Monday, July 7th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan currently has a consensus rating of "Moderate Buy" and an average price target of $31.20.

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.