BROOKFIELD Corp ON Sells 510,488 Shares of Kinder Morgan, Inc. $KMI

BROOKFIELD Corp ON trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,077,117 shares of the pipeline company’s stock after selling 510,488 shares during the period. BROOKFIELD Corp ON’s holdings in Kinder Morgan were worth $59,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC raised 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 valued at $25,000 after acquiring an additional 788 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Kinder Morgan during the fourth quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in shares of Kinder Morgan during the 4th quarter valued at about $29,000. JNBA Financial Advisors boosted its stake in shares of Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 870 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Kinder Morgan by 2,913.5% during the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 1,078 shares in the last quarter. 62.52% of the stock is owned by institutional investors.

Insider Activity at Kinder Morgan

In related news, CFO David Patrick Michels sold 40,000 shares of the 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 sale, the chief financial officer directly owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $27.00, for a total transaction of $166,482.00. Following the sale, the vice president directly owned 225,868 shares in the company, valued at $6,098,436. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,008 shares of company stock worth $3,553,982 in the last ninety days. 12.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KMI. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research note on Monday, July 7th. Barclays restated an “overweight” rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised their target price on Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Stifel Nicolaus raised their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, August 14th. Finally, Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Friday, July 25th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.

Kinder Morgan Stock Up 0.7%

Shares of Kinder Morgan stock opened at $27.56 on Friday. 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 company has a 50-day moving average of $27.24 and a 200 day moving average of $27.34. The firm has a market cap of $61.24 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.21 and a beta of 0.81. Kinder Morgan, Inc. has a 1 year low of $20.72 and a 1 year high of $31.48.

Kinder Morgan (NYSE:KMI) last issued its quarterly 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. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were paid a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. 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.