Griffin Asset Management Inc. Decreases Stock Position in Kinder Morgan, Inc. $KMI

Griffin Asset Management Inc. lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 19.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,907 shares of the pipeline company’s stock after selling 9,913 shares during the period. Griffin Asset Management Inc.’s holdings in Kinder Morgan were worth $1,173,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Alhambra Investment Management LLC lifted its position in Kinder Morgan by 2.3% in the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company’s stock valued at $468,000 after acquiring an additional 363 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in Kinder Morgan by 4.2% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company’s stock valued at $276,000 after acquiring an additional 374 shares in the last quarter. Morton Capital Management LLC CA lifted its position in Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company’s stock valued at $1,084,000 after acquiring an additional 377 shares in the last quarter. QTR Family Wealth LLC lifted its position in Kinder Morgan by 2.7% in the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 377 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in Kinder Morgan by 0.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company’s stock valued at $1,396,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Down 1.5%

KMI opened at $27.12 on Monday. The firm has a market cap of $60.25 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.19 and a beta of 0.78. Kinder Morgan, Inc. has a 12 month low of $23.86 and a 12 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. The stock has a 50-day moving average of $27.26 and a 200 day moving average of $27.44.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 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 return on equity of 8.31% and a net margin of 17.06%.The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 4.3%. Kinder Morgan’s dividend payout ratio (DPR) is presently 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, EVP Dax Sanders sold 30,127 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 292,000 shares of the company’s stock, valued at $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy W. Chronis acquired 2,759 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was purchased at an average cost of $27.21 per share, with a total value of $75,072.39. Following the purchase, the director owned 34,764 shares of the company’s stock, valued at $945,928.44. The trade was a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 134,174 shares of company stock valued at $3,727,678 over the last quarter. Corporate insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KMI. 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 report on Friday, July 25th. Morgan Stanley set a $30.00 price target on Kinder Morgan in a report on Thursday. TD Cowen initiated coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a “buy” rating and a $34.00 price objective for the company. Wells Fargo & Company upped their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average price target of $30.88.

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.