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

Bank of New York Mellon Corp cut its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 owned about 0.55% of Kinder Morgan worth $337,751,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $27,000. Dorato Capital Management acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $30,000. Basepoint Wealth LLC acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $30,000. Strategic Advocates LLC acquired a new position in Kinder Morgan during the third quarter valued at approximately $32,000. Finally, Torren Management LLC acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the sale, the vice president directly owned 43,293 shares of the company’s stock, valued at approximately $1,456,809.45. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $32.93, for a total value of $203,046.38. Following the completion of the sale, the vice president owned 182,706 shares of the company’s stock, valued at $6,016,508.58. This trade represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 16,982 shares of company stock worth $555,825. 12.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KMI has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, March 13th. Jefferies Financial Group reduced their price target on Kinder Morgan from $36.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings raised Kinder Morgan from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, May 4th. Zacks Research raised Kinder Morgan from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Scotiabank raised their target price on shares of Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Kinder Morgan Trading Up 1.1%

KMI stock opened at $31.70 on Friday. Kinder Morgan, Inc. has a one year low of $25.60 and a one year high of $34.81. The stock has a market cap of $70.53 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.62 and a beta of 0.54. The company has a fifty day moving average price of $32.53 and a two-hundred day moving average price of $30.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41.

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 the consensus estimate of $0.38 by $0.10. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.55 billion. Kinder Morgan had a net margin of 18.92% and a return on equity of 9.90%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Kinder Morgan has set its FY 2026 guidance at 1.360-1.360 EPS. Equities analysts anticipate that Kinder Morgan, Inc. will post 1.49 EPS for the current year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a $0.2975 dividend. 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 annualized dividend and a dividend yield of 3.8%. Kinder Morgan’s dividend payout ratio (DPR) is currently 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.