Towne Trust Company N.A Sells 24,900 Shares of Kinder Morgan, Inc. $KMI

Towne Trust Company N.A reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 13.3% during the first quarter, HoldingsChannel reports. The fund owned 162,307 shares of the pipeline company’s stock after selling 24,900 shares during the period. Kinder Morgan comprises approximately 1.7% of Towne Trust Company N.A’s holdings, making the stock its 19th largest position. Towne Trust Company N.A’s holdings in Kinder Morgan were worth $5,442,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Kinder Morgan by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 210,281,448 shares of the pipeline company’s stock worth $5,780,637,000 after purchasing an additional 2,165,130 shares in the last quarter. State Street Corp increased its stake in Kinder Morgan by 2.2% during the 4th quarter. State Street Corp now owns 116,860,317 shares of the pipeline company’s stock valued at $3,212,490,000 after purchasing an additional 2,510,601 shares in the last quarter. Norges Bank purchased a new position in Kinder Morgan in the fourth quarter worth about $1,132,125,000. Charles Schwab Investment Management Inc. raised its holdings in Kinder Morgan by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,104,829 shares of the pipeline company’s stock worth $827,582,000 after buying an additional 195,088 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in shares of Kinder Morgan by 3.1% in the second quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock worth $665,474,000 after buying an additional 670,856 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In related news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $32.41, for a total value of $199,840.06. Following the completion of the sale, the vice president owned 176,540 shares of the company’s stock, valued at $5,721,661.40. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total value of $48,732.00. Following the sale, the vice president owned 41,743 shares of the company’s stock, valued at approximately $1,312,399.92. This trade 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. Over the last 90 days, insiders sold 23,148 shares of company stock worth $749,206. Company insiders own 12.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on KMI. Weiss Ratings cut shares of Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Mizuho upped their price objective on Kinder Morgan from $31.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Royal Bank Of Canada lifted their target price on Kinder Morgan from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, March 30th. Citigroup boosted their price target on Kinder Morgan from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 30th. Finally, Wolfe Research downgraded Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Kinder Morgan currently has a consensus rating of “Hold” and a consensus price target of $34.71.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $33.19 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $32.16 and a 200-day moving average price of $31.10. Kinder Morgan, Inc. has a 52 week low of $25.60 and a 52 week high of $34.81. The firm has a market capitalization of $73.84 billion, a PE ratio of 22.27, a P/E/G ratio of 2.76 and a beta of 0.54.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts expect that Kinder Morgan, Inc. will post 1.49 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently declared 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. This represents a $1.19 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s payout ratio is currently 79.87%.

Kinder Morgan Company Profile

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.