Bank of New York Mellon Corp Sells 453,346 Shares of Kinder Morgan, Inc. $KMI

Bank of New York Mellon Corp lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 3.6% during the fourth quarter, Holdings Channel reports. The firm owned 12,286,321 shares of the pipeline company’s stock after selling 453,346 shares during the period. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $337,751,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KMI. Board of the Pension Protection Fund bought a new position in shares of Kinder Morgan in the fourth quarter worth $27,000. Dorato Capital Management bought a new position in shares of Kinder Morgan in the fourth quarter worth $30,000. Basepoint Wealth LLC bought a new position in shares of Kinder Morgan in the fourth quarter worth $30,000. Strategic Advocates LLC bought a new position in shares of Kinder Morgan in the third quarter worth $32,000. Finally, Torren Management LLC bought a new position in shares of Kinder Morgan in the fourth quarter worth $32,000. Institutional investors own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $32.41, for a total transaction of $199,840.06. Following the sale, the vice president directly owned 176,540 shares of the company’s stock, valued at approximately $5,721,661.40. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the sale, the vice president directly owned 43,293 shares in the company, valued at $1,456,809.45. The trade was a 3.46% decrease in their ownership of the stock. 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 16,982 shares of company stock worth $555,825 over the last three months. Insiders own 12.72% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $31.70 on Friday. The business’s 50-day moving average price is $32.53 and its 200-day moving average price is $30.58. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The firm has a market capitalization of $70.53 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.62 and a beta of 0.54. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.55 billion. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.49 EPS 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 paid a dividend of $0.2975 per share. 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. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. Kinder Morgan’s payout ratio is 79.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KMI. Wolfe Research cut Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup raised their price objective on Kinder Morgan from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 30th. Royal Bank Of Canada raised their price objective on Kinder Morgan from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, March 30th. Truist Financial began coverage on Kinder Morgan in a research note on Tuesday, March 24th. They issued a “hold” rating and a $38.00 price objective on the stock. Finally, Barclays reaffirmed an “overweight” rating on shares of Kinder Morgan in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

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.