SteelPeak Wealth LLC Sells 183,824 Shares of Kinder Morgan, Inc. $KMI

Key Points

• SteelPeak Wealth LLC reduced its holdings in Kinder Morgan, selling 183,824 shares, which represented a 51.0% decrease during the second quarter, leaving them with 176,279 shares valued at approximately $5.18 million.
• Multiple large investors significantly increased their positions in Kinder Morgan, with Sierra Ocean LLC expanding its stake by 927.1% during the first quarter.
• Kinder Morgan recently declared a quarterly dividend of $0.2925 per share, resulting in a 4.2% dividend yield and a high dividend payout ratio of 95.90%.

SteelPeak Wealth LLC lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 51.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,279 shares of the pipeline company's stock after selling 183,824 shares during the period. SteelPeak Wealth LLC's holdings in Kinder Morgan were worth $5,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in 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 during the period. JNBA Financial Advisors increased its stake in shares of 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 purchasing an additional 870 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of Kinder Morgan by 116.1% during the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock worth $31,000 after purchasing an additional 562 shares during the period. Grove Bank & Trust increased its stake in shares of Kinder Morgan by 2,913.5% during the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock worth $32,000 after purchasing an additional 1,078 shares during the period. Finally, Wolff Wiese Magana LLC bought a new position in Kinder Morgan during the 2nd quarter worth $34,000. Institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Cowen assumed coverage on Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating on the stock. Stifel Nicolaus raised their price objective on Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Scotiabank lowered their price objective on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Friday, September 19th. TD Cowen started coverage on Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Finally, Morgan Stanley lifted their price target on Kinder Morgan from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Eleven research 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $31.25.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Dax Sanders sold 30,127 shares of Kinder Morgan stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the transaction, the executive vice president directly owned 292,000 shares in the company, valued at $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,008 shares of company stock worth $3,553,982 over the last 90 days. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan Trading Down 1.9%

NYSE KMI opened at $27.93 on Tuesday. 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, Inc. has a twelve month low of $23.06 and a twelve month high of $31.48. The company has a market cap of $62.06 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 3.35 and a beta of 0.78. The business's fifty day moving average is $27.28 and its 200 day moving average is $27.46.

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, meeting the consensus estimate of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the business posted $0.26 EPS. Kinder Morgan'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. As a group, sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 4.2%. Kinder Morgan's dividend payout ratio (DPR) is 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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