CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 354,728 Shares of Kinder Morgan, Inc. $KMI

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 12.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,514,400 shares of the pipeline company’s stock after selling 354,728 shares during the quarter. Kinder Morgan makes up approximately 4.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 9th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.11% of Kinder Morgan worth $73,923,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 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 worth $25,000 after acquiring an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Kinder Morgan during the 4th quarter valued at about $26,000. Heck Capital Advisors LLC acquired a new position in Kinder Morgan during the 4th quarter valued at about $29,000. JNBA Financial Advisors boosted 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 purchasing an additional 870 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in 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 during the last quarter. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Trading Down 0.8%

Kinder Morgan stock opened at $27.46 on Monday. The stock has a market cap of $61.02 billion, a P/E ratio of 22.51, a PEG ratio of 3.22 and a beta of 0.81. Kinder Morgan, Inc. has a fifty-two week low of $21.45 and a fifty-two week high of $31.48. The firm’s fifty day moving average price is $27.17 and its 200-day moving average price is $27.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on KMI shares. Scotiabank cut their price target on Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Cowen assumed coverage on Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating for the company. Stifel Nicolaus upped their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Finally, BMO Capital Markets assumed coverage on Kinder Morgan in a report on Friday. They issued an “outperform” rating and a $32.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $31.06.

Insider Activity

In related news, EVP Dax Sanders sold 30,127 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the completion of the sale, the vice president directly owned 225,868 shares in the company, valued at $6,098,436. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,008 shares of company stock valued at $3,553,982. Company insiders own 12.73% of the company’s stock.

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.