Bank of New York Mellon Corp Buys 65,965 Shares of Kinder Morgan, Inc. $KMI

Bank of New York Mellon Corp boosted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 12,352,286 shares of the pipeline company’s stock after purchasing an additional 65,965 shares during the period. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $414,172,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KMI. Board of the Pension Protection Fund acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at $27,000. Commonwealth Retirement Investments LLC bought a new position in Kinder Morgan during the fourth quarter worth $27,000. First Pacific Financial grew its stake in shares of Kinder Morgan by 9,900.0% in the 1st quarter. First Pacific Financial now owns 1,000 shares of the pipeline company’s stock valued at $34,000 after buying an additional 990 shares during the period. Acumen Wealth Advisors LLC bought a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $28,000. Finally, Dorato Capital Management bought a new stake in Kinder Morgan during the 4th quarter valued at $30,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KMI has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Wolfe Research cut Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada raised their price objective on shares of Kinder Morgan from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, March 30th. Scotiabank upped their price target on Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings downgraded Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Eight investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Kinder Morgan currently has a consensus rating of “Hold” and a consensus price target of $34.71.

Insider Buying and Selling at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $31.90, for a total transaction of $196,695.40. Following the completion of the sale, the vice president owned 164,208 shares of the company’s stock, valued at $5,238,235.20. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the transaction, the vice president owned 41,743 shares of the company’s stock, valued at $1,312,399.92. This represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,598 shares of company stock worth $693,689 over the last three months. Corporate insiders own 12.72% of the company’s stock.

Kinder Morgan Trading Down 0.8%

Shares of KMI opened at $32.29 on Friday. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81. The firm’s 50-day moving average price is $32.29 and its 200-day moving average price is $31.66. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $71.84 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.71 and a beta of 0.54.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.55 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a dividend of $0.2975 per share. The ex-dividend date was Monday, May 4th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.19 annualized dividend and a dividend yield of 3.7%. Kinder Morgan’s dividend payout ratio (DPR) is 79.87%.

About Kinder Morgan

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.