Tortoise Capital Advisors L.L.C. Cuts Stake in Kinder Morgan, Inc. $KMI

Key Points

• Tortoise Capital Advisors L.L.C. has reduced its stake in Kinder Morgan, Inc. by 0.4%, now holding approximately 10.15 million shares, which represents 3.5% of its portfolio.
• Equities analysts have a consensus rating of "Moderate Buy" for Kinder Morgan, with price targets ranging from $31.00 to $34.00 set by various firms.
• Kinder Morgan declared a quarterly dividend of $0.2925 per share, yielding 4.4%, with a dividend payout ratio of 95.90%.

Tortoise Capital Advisors L.L.C. lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,152,678 shares of the pipeline company's stock after selling 36,983 shares during the period. Kinder Morgan comprises about 3.5% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 11th biggest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.46% of Kinder Morgan worth $289,656,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC increased its position in shares of Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 788 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Kinder Morgan in the fourth quarter valued at about $26,000. Morse Asset Management Inc purchased a new position in shares of Kinder Morgan in the fourth quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in shares of Kinder Morgan in the fourth quarter valued at about $29,000. Finally, JNBA Financial Advisors increased its position in shares of Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 870 shares during the period. Institutional investors own 62.52% of the company's stock.

Insider Transactions at Kinder Morgan

In other news, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was 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 directly owned 232,034 shares in the company, valued at $6,450,545.20. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,842 shares of company stock worth $3,896,180. 12.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KMI shares. Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a research report on Monday, July 7th. TD Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Wolfe Research raised shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Friday, July 25th. Finally, Barclays reissued an "overweight" rating and set a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Kinder Morgan Stock Down 0.6%

Shares of NYSE:KMI traded down $0.1520 during midday trading on Friday, reaching $26.6680. The company's stock had a trading volume of 13,028,814 shares, compared to its average volume of 15,957,200. The firm has a 50 day moving average of $27.64 and a 200-day moving average of $27.33. The firm has a market capitalization of $59.26 billion, a P/E ratio of 21.86, a PEG ratio of 3.38 and a beta of 0.78. 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 12-month low of $20.56 and a 12-month high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. Kinder Morgan's dividend payout ratio is currently 95.90%.

Kinder Morgan Company 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.