Kornitzer Capital Management Inc. KS Cuts Position in Kinder Morgan, Inc. $KMI

Kornitzer Capital Management Inc. KS lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,554,090 shares of the pipeline company’s stock after selling 25,931 shares during the period. Kinder Morgan comprises about 1.8% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 8th largest holding. Kornitzer Capital Management Inc. KS owned 0.11% of Kinder Morgan worth $85,639,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KMI. Benjamin Edwards Inc. grew its stake in shares of Kinder Morgan by 14.4% in the fourth quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company’s stock valued at $12,849,000 after acquiring an additional 59,013 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kinder Morgan by 44.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,135,863 shares of the pipeline company’s stock valued at $29,523,000 after buying an additional 350,348 shares during the period. Groupama Asset Managment grew its position in Kinder Morgan by 112.8% during the third quarter. Groupama Asset Managment now owns 94,715 shares of the pipeline company’s stock worth $2,681,000 after buying an additional 50,199 shares in the last quarter. Holocene Advisors LP bought a new position in Kinder Morgan during the 3rd quarter worth $77,662,000. Finally, Mirabella Financial Services LLP raised its holdings in Kinder Morgan by 144.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 112,282 shares of the pipeline company’s stock valued at $3,172,000 after acquiring an additional 66,403 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $31.90, for a total transaction of $196,695.40. Following the sale, the vice president directly owned 164,208 shares of the company’s stock, valued at $5,238,235.20. The trade was a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the transaction, the vice president directly owned 41,743 shares of the company’s stock, valued at $1,312,399.92. The trade was a 3.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,148 shares of company stock worth $742,855 over the last three months. Insiders own 12.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KMI shares. Jefferies Financial Group dropped their price target on Kinder Morgan from $36.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Truist Financial assumed coverage on shares of Kinder Morgan in a research note on Tuesday, March 24th. They issued a “hold” rating and a $38.00 price objective on the stock. Zacks Research downgraded shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Wolfe Research cut Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan currently has an average rating of “Hold” and an average price target of $34.71.

Kinder Morgan Price Performance

KMI stock traded down $0.28 during midday trading on Friday, reaching $32.12. 5,991,147 shares of the stock were exchanged, compared to its average volume of 9,737,879. The stock has a market capitalization of $71.46 billion, a PE ratio of 21.56, a P/E/G ratio of 2.70 and a beta of 0.54. Kinder Morgan, Inc. has a 52 week low of $25.60 and a 52 week high of $34.81. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. The company has a fifty day moving average price of $32.24 and a 200 day moving average price of $31.47.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.38 by $0.10. Kinder Morgan had a return on equity of 9.90% and a net margin of 18.92%.The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. As a group, analysts expect that Kinder Morgan, Inc. will post 1.49 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.2975 per share. The ex-dividend date was Monday, May 4th. This represents a $1.19 annualized dividend and a yield of 3.7%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is 79.87%.

About Kinder Morgan

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.