Bank of New York Mellon Corp Sells 731,903 Shares of Kinder Morgan, Inc. $KMI

Bank of New York Mellon Corp decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,917,201 shares of the pipeline company’s stock after selling 731,903 shares during the period. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $379,766,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC boosted its holdings in shares of Kinder Morgan by 116.1% in the 2nd 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 in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Kinder Morgan during the 2nd quarter worth $34,000. Clearstead Trust LLC bought a new stake in shares of Kinder Morgan during the 1st quarter worth $40,000. N.E.W. Advisory Services LLC acquired a new stake in Kinder Morgan in the first quarter valued at about $46,000. Finally, Manchester Capital Management LLC grew its position in Kinder Morgan by 170.5% in the first quarter. Manchester Capital Management LLC now owns 1,699 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 1,071 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Richard D. Kinder acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were bought at an average cost of $25.96 per share, with a total value of $25,960,000.00. Following the completion of the purchase, the chairman directly owned 246,212,353 shares in the company, valued at $6,391,672,683.88. The trade was a 0.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dax Sanders sold 30,127 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 1,004,287 shares of company stock valued at $26,072,463 and have sold 42,459 shares valued at $1,155,114. 12.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley set a $30.00 target price on shares of Kinder Morgan in a report on Thursday, October 9th. Wolfe Research upgraded shares of Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $31.13.

Kinder Morgan Price Performance

KMI stock opened at $25.85 on Wednesday. The company has a market capitalization of $57.50 billion, a P/E ratio of 21.18, a PEG ratio of 3.01 and a beta of 0.78. The company has a fifty day moving average price of $27.21 and a 200-day moving average price of $27.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.63. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $31.48.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. Kinder Morgan’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.2925 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.17 annualized dividend and a dividend yield of 4.5%. Kinder Morgan’s dividend payout ratio is presently 95.90%.

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.