Patton Fund Management Inc. Trims Stock Position in Kinder Morgan, Inc. $KMI

by · The Markets Daily

Patton Fund Management Inc. cut its stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 91.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,798 shares of the pipeline company’s stock after selling 100,684 shares during the period. Patton Fund Management Inc.’s holdings in Kinder Morgan were worth $277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LFA Lugano Financial Advisors SA acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $26,000. Cranbrook Wealth Management LLC increased its holdings in shares of Kinder Morgan by 116.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock worth $31,000 after buying an additional 562 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Kinder Morgan in the 2nd quarter worth $34,000. CoreFirst Bank & Trust acquired a new position in Kinder Morgan in the second quarter valued at $35,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Kinder Morgan during the second quarter valued at about $40,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $26.89 on Tuesday. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. The stock has a market cap of $59.83 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The stock has a 50 day moving average of $26.81 and a 200-day moving average of $27.29.

Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.98 billion. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. On average, analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, November 3rd. Kinder Morgan’s payout ratio is currently 95.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KMI. Scotiabank dropped their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. BMO Capital Markets assumed coverage on Kinder Morgan in a research note on Friday, September 19th. They issued an “outperform” rating and a $32.00 target price for the company. Mizuho decreased their price target on Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, November 14th. Royal Bank Of Canada lifted their price objective on shares of Kinder Morgan from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $31.27.

Check Out Our Latest Report on KMI

Insider Buying and Selling at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $27.81, for a total transaction of $171,476.46. Following the transaction, the vice president directly owned 207,370 shares in the company, valued at $5,766,959.70. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard D. Kinder bought 1,000,000 shares of the stock in a transaction on Monday, October 27th. The shares were acquired at an average price of $25.96 per share, with a total value of $25,960,000.00. Following the purchase, the chairman owned 246,212,353 shares of the company’s stock, valued at $6,391,672,683.88. The trade was a 0.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 1,004,287 shares of company stock worth $26,072,463 and have sold 18,498 shares worth $511,655. 12.73% of the stock is currently owned by insiders.

About Kinder Morgan

(Free Report)

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.

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