Cascade Investment Advisors Inc. Decreases Stock Holdings in Kinder Morgan, Inc. $KMI

Cascade Investment Advisors Inc. lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 60,161 shares of the pipeline company’s stock after selling 1,125 shares during the period. Cascade Investment Advisors Inc.’s holdings in Kinder Morgan were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sierra Ocean LLC raised its position 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 valued at $25,000 after purchasing an additional 788 shares during the last quarter. JNBA Financial Advisors lifted its stake in 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 acquiring an additional 870 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Kinder Morgan by 116.1% in the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 562 shares during the last quarter. Grove Bank & Trust boosted its position in Kinder Morgan by 2,913.5% in the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Wolff Wiese Magana LLC acquired a new stake in Kinder Morgan during the second quarter valued at $34,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

KMI stock opened at $27.12 on Monday. The business has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $27.44. The company has a market capitalization of $60.25 billion, a P/E ratio of 22.23, a PEG ratio of 3.19 and a beta of 0.78. Kinder Morgan, Inc. has a twelve month low of $23.86 and a twelve month high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

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

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 95.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Scotiabank dropped their target price on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Wolfe Research raised Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Friday, July 25th. Wells Fargo & Company lifted their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, BMO Capital Markets assumed coverage on Kinder Morgan in a research note on Friday, September 19th. They issued an “outperform” rating and a $32.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Insider Buying and Selling

In other Kinder Morgan 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 transaction, the chief financial officer directly owned 159,428 shares in the company, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $28.17, for a total transaction of $173,696.22. Following the sale, the vice president owned 219,702 shares of the company’s stock, valued at approximately $6,189,005.34. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,174 shares of company stock worth $3,727,678 in the last three months. Company insiders own 12.73% of the company’s stock.

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.