United Asset Strategies Inc. Sells 51,243 Shares of Kinder Morgan, Inc. $KMI

Key Points

• United Asset Strategies Inc. reduced its stake in Kinder Morgan, Inc. by 9.3% during the 1st quarter, holding 497,943 shares worth approximately $14.2 million afterward.
• Insider activity included CFO David Patrick Michels selling 40,000 shares and VP Sital K. Mody selling 45,549 shares in early August, indicating a significant decrease in their positions.
• Kinder Morgan reported a quarterly revenue of $4.04 billion exceeding expectations, with a net margin of 17.06% and a return on equity of 8.31%.

United Asset Strategies Inc. reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497,943 shares of the pipeline company's stock after selling 51,243 shares during the quarter. Kinder Morgan makes up approximately 1.3% of United Asset Strategies Inc.'s holdings, making the stock its 21st largest holding. United Asset Strategies Inc.'s holdings in Kinder Morgan were worth $14,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KMI. Sierra Ocean LLC boosted its holdings 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 worth $25,000 after acquiring an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Kinder Morgan in the 4th quarter worth approximately $26,000. Morse Asset Management Inc acquired a new position in shares of Kinder Morgan in the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of Kinder Morgan in the 4th quarter worth approximately $29,000. Finally, JNBA Financial Advisors boosted its holdings 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 worth $29,000 after acquiring an additional 870 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Trading Down 0.6%

Shares of KMI stock traded down $0.1520 during trading hours on Friday, reaching $26.6680. The company had a trading volume of 13,028,814 shares, compared to its average volume of 16,066,490. The company has a 50 day moving average of $27.64 and a 200 day moving average of $27.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market cap of $59.26 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 3.38 and a beta of 0.78. Kinder Morgan, Inc. has a 1-year low of $20.56 and a 1-year high of $31.48.

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 for the quarter, meeting analysts' consensus estimates of $0.28. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid 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 95.90%.

Insider Buying and Selling

In other news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the transaction, the president owned 771,652 shares of the company's stock, valued at $21,806,885.52. This represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dax Sanders sold 30,127 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the transaction, the executive vice president directly owned 292,000 shares in the company, valued at approximately $7,898,600. This trade represents a 9.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,842 shares of company stock worth $3,896,180 over the last 90 days. 12.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on KMI shares. Morgan Stanley set a $34.00 price objective on Kinder Morgan in a report on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada upped their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 29th. TD Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Finally, Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Friday, July 25th. Nine 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, Kinder Morgan presently has an average rating of "Moderate Buy" and a consensus target price of $31.20.

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.