Truist Financial Corp Decreases Stock Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Truist Financial Corp has reduced its stake in Kinder Morgan, Inc. by 3.7%, holding approximately 1,683,315 shares valued at around $49.49 million as of the latest SEC filing.
• Several institutional investors, including Vanguard and Goldman Sachs, have increased their positions in Kinder Morgan, indicating continued investor interest in the pipeline company.
• Kinder Morgan recently declared a quarterly dividend of $0.2925 per share, representing an annualized amount of $1.17, with a dividend yield of 4.1% and a payout ratio of 95.90%.

Truist Financial Corp decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,683,315 shares of the pipeline company's stock after selling 63,776 shares during the quarter. Truist Financial Corp owned about 0.08% of Kinder Morgan worth $49,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 0.6% in the first quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company's stock valued at $5,824,367,000 after acquiring an additional 1,302,794 shares during the period. Goldman Sachs Group Inc. grew its holdings in Kinder Morgan by 37.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock worth $578,628,000 after acquiring an additional 5,529,065 shares in the last quarter. Deutsche Bank AG grew its holdings in Kinder Morgan by 2.0% during the 1st quarter. Deutsche Bank AG now owns 15,002,375 shares of the pipeline company's stock worth $428,018,000 after acquiring an additional 290,653 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kinder Morgan by 19.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,324,387 shares of the pipeline company's stock worth $380,145,000 after acquiring an additional 2,144,307 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Kinder Morgan by 8.0% in the 1st quarter. Amundi now owns 12,762,800 shares of the pipeline company's stock valued at $353,785,000 after buying an additional 943,023 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company's stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent analyst reports. TD Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Barclays reissued an "overweight" rating and set a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Cowen began coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating for the company. Finally, Scotiabank cut their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Ten equities 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.25.

Insider Activity

In other news, EVP Dax Sanders sold 30,127 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.05, for a total transaction of $814,935.35. Following the transaction, the executive vice president owned 292,000 shares of the company's stock, valued at approximately $7,898,600. The trade was a 9.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Patrick Michels sold 40,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the transaction, the chief financial officer directly owned 159,428 shares in the company, valued at approximately $4,494,275.32. The trade was a 20.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,008 shares of company stock worth $3,553,982. Insiders own 12.73% of the company's stock.

Kinder Morgan Trading Down 0.1%

Shares of KMI opened at $28.28 on Thursday. Kinder Morgan, Inc. has a 52-week low of $22.60 and a 52-week high of $31.48. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The firm's fifty day moving average is $27.23 and its two-hundred day moving average is $27.46. The stock has a market cap of $62.85 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its 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. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the company posted $0.26 EPS. The firm's quarterly revenue was up 13.2% on a year-over-year basis. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given 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 4.1%. Kinder Morgan's payout ratio is presently 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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