Sterling Capital Management LLC Sells 48,835 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Sterling Capital Management cut its Kinder Morgan stake by 42.3% in Q1, selling 48,835 shares and leaving it with 66,618 shares valued at about $2.23 million.
• Kinder Morgan posted strong quarterly results, reporting EPS of $0.48 versus estimates of $0.38 and revenue of $4.83 billion, with revenue up 13.8% year over year.
• The company raised its quarterly dividend to $0.2975 per share, putting the annualized payout at $1.19 and the dividend yield at 3.6%.

Sterling Capital Management LLC decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 42.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,618 shares of the pipeline company's stock after selling 48,835 shares during the period. Sterling Capital Management LLC's holdings in Kinder Morgan were worth $2,234,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. TD Capital Management LLC increased its holdings in Kinder Morgan by 36.0% in the 4th quarter. TD Capital Management LLC now owns 1,220 shares of the pipeline company's stock worth $34,000 after buying an additional 323 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Kinder Morgan by 13.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,860 shares of the pipeline company's stock valued at $79,000 after acquiring an additional 329 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Kinder Morgan by 4.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 8,445 shares of the pipeline company's stock worth $232,000 after acquiring an additional 333 shares during the period. Waddell & Associates LLC grew its stake in shares of Kinder Morgan by 1.3% in the fourth quarter. Waddell & Associates LLC now owns 26,206 shares of the pipeline company's stock worth $720,000 after acquiring an additional 336 shares during the period. Finally, Abbot Financial Management Inc. grew its position in Kinder Morgan by 0.8% in the 4th quarter. Abbot Financial Management Inc. now owns 44,707 shares of the pipeline company's stock worth $1,229,000 after purchasing an additional 338 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

NYSE:KMI opened at $33.19 on Monday. The business's 50-day moving average is $32.16 and its 200 day moving average is $31.12. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The company has a market capitalization of $73.84 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.76 and a beta of 0.54. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92.

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

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $0.2975 dividend. The ex-dividend date was Monday, May 4th. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.6%. Kinder Morgan's dividend payout ratio (DPR) is currently 79.87%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KMI shares. Truist Financial began coverage on Kinder Morgan in a research report on Tuesday, March 24th. They issued a "hold" rating and a $38.00 target price on the stock. Zacks Research lowered Kinder Morgan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Wells Fargo & Company lifted their target price on Kinder Morgan from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, March 13th. UBS Group reissued a "buy" rating and issued a $43.00 target price on shares of Kinder Morgan in a report on Monday, June 15th. Finally, Jefferies Financial Group dropped their price objective on Kinder Morgan from $36.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $34.71.

Insider Transactions at Kinder Morgan

In related news, VP Michael P. Garthwaite sold 1,550 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total value of $48,732.00. Following the transaction, the vice president owned 41,743 shares of the company's stock, valued at $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 is accessible through the SEC website. 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 dated Tuesday, May 5th. The shares were sold at an average price of $32.41, for a total transaction of $199,840.06. Following the sale, the vice president owned 176,540 shares of the company's stock, valued at $5,721,661.40. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 23,148 shares of company stock worth $749,206. Company insiders own 12.72% of the company's stock.

Kinder Morgan 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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