Cullen Frost Bankers Inc. Cuts Position in Kinder Morgan, Inc. $KMI

Cullen Frost Bankers Inc. decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,042 shares of the pipeline company’s stock after selling 3,288 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Kinder Morgan were worth $795,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of KMI. Nuveen LLC purchased a new position in Kinder Morgan in the first quarter worth $205,966,000. 59 North Capital Management LP purchased a new position in Kinder Morgan in the first quarter worth $195,658,000. Goldman Sachs Group Inc. raised its position in Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after acquiring an additional 5,529,065 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Kinder Morgan by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after acquiring an additional 3,037,095 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Kinder Morgan in the second quarter valued at $68,124,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cowen assumed coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a “buy” rating for the company. BMO Capital Markets assumed coverage on Kinder Morgan in a research report on Friday, September 19th. They issued an “outperform” rating and a $32.00 price target for the company. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Friday, July 25th. TD Cowen assumed coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a “buy” rating and a $34.00 price target for the company. Finally, Morgan Stanley set a $30.00 price target on Kinder Morgan in a research report on Thursday, October 9th. Ten 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, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Kinder Morgan Stock Down 1.4%

KMI opened at $25.88 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.98. The firm has a market cap of $57.51 billion, a P/E ratio of 21.21, a PEG ratio of 3.07 and a beta of 0.78. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48. The business’s fifty day simple moving average is $27.28 and its 200 day simple moving average is $27.43.

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

Kinder Morgan Dividend Announcement

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

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 45,549 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy W. Chronis purchased 2,759 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was acquired at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the purchase, the director owned 34,764 shares in the company, valued at $945,928.44. The trade was a 8.62% increase in their position. The disclosure for this purchase can be found here. Insiders sold 134,174 shares of company stock worth $3,727,678 in the last quarter. 12.73% of the stock is currently owned by corporate insiders.

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.