Kinder Morgan, Inc. $KMI Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,687 shares of the pipeline company’s stock after selling 1,030 shares during the quarter. Perigon Wealth Management LLC’s holdings in Kinder Morgan were worth $402,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $308,000. GAMMA Investing LLC raised its stake in shares of Kinder Morgan by 3,019.2% during the 1st quarter. GAMMA Investing LLC now owns 1,003,857 shares of the pipeline company’s stock worth $28,640,000 after buying an additional 971,674 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Kinder Morgan by 8.1% during the 1st quarter. Parallel Advisors LLC now owns 27,028 shares of the pipeline company’s stock worth $771,000 after buying an additional 2,029 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Kinder Morgan by 2.4% during the 1st quarter. Rhumbline Advisers now owns 3,914,207 shares of the pipeline company’s stock worth $111,672,000 after buying an additional 92,532 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Kinder Morgan by 2.8% during the 1st quarter. 180 Wealth Advisors LLC now owns 17,479 shares of the pipeline company’s stock worth $499,000 after buying an additional 471 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Price Performance

KMI stock opened at $28.34 on Tuesday. Kinder Morgan, Inc. has a 52-week low of $21.65 and a 52-week high of $31.48. The stock’s fifty day simple moving average is $27.17 and its 200-day simple moving average is $27.45. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $62.97 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.31 and a beta of 0.81.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Equities research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.1%. Kinder Morgan’s dividend payout ratio (DPR) is presently 95.90%.

Insider Buying and Selling

In other Kinder Morgan news, EVP Dax Sanders sold 30,127 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the transaction, the executive vice president directly owned 292,000 shares of the company’s stock, valued at $7,898,600. This trade represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the transaction, the chief financial officer directly owned 159,428 shares in the company, valued at $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,008 shares of company stock valued at $3,553,982 over the last ninety days. Insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KMI. Wolfe Research raised Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Friday, July 25th. BMO Capital Markets began coverage on Kinder Morgan in a research note on Friday, September 19th. They issued an “outperform” rating and a $32.00 price objective for the company. TD Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a “buy” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a “buy” rating for the company. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.06.

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.