OLD National Bancorp IN Sells 107,558 Shares of Kinder Morgan, Inc. $KMI

OLD National Bancorp IN lowered its position in Kinder Morgan, Inc. (NYSE:KMI) by 52.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,162 shares of the pipeline company’s stock after selling 107,558 shares during the period. OLD National Bancorp IN’s holdings in Kinder Morgan were worth $3,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kinder Morgan during the fourth quarter worth about $1,132,125,000. AQR Capital Management LLC increased its stake in Kinder Morgan by 431.9% during the 3rd quarter. AQR Capital Management LLC now owns 6,569,082 shares of the pipeline company’s stock worth $185,971,000 after purchasing an additional 5,333,986 shares in the last quarter. Merewether Investment Management LP acquired a new stake in Kinder Morgan during the 2nd quarter worth approximately $138,477,000. Zimmer Partners LP raised its holdings in Kinder Morgan by 177.8% during the 3rd quarter. Zimmer Partners LP now owns 6,070,100 shares of the pipeline company’s stock worth $171,845,000 after buying an additional 3,885,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Kinder Morgan in the fourth quarter valued at approximately $85,364,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the transaction, the vice president owned 41,743 shares of the company’s stock, valued at $1,312,399.92. This trade represents a 3.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 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 transaction, the vice president owned 176,540 shares in the company, valued at $5,721,661.40. This represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 23,148 shares of company stock worth $749,206. 12.72% of the stock is owned by corporate insiders.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $33.19 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.41 and a current ratio of 0.52. The stock has a 50 day moving average price of $32.16 and a 200 day moving average price of $31.10. The stock has a market capitalization of $73.84 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.75 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.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.48 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.55 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. 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. Analysts predict that Kinder Morgan, Inc. will post 1.49 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.2975 per share. The ex-dividend date 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 yield of 3.6%. Kinder Morgan’s dividend payout ratio is presently 79.87%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMI. Weiss Ratings cut shares of Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Truist Financial initiated coverage on shares of Kinder Morgan in a report on Tuesday, March 24th. They set a “hold” rating and a $38.00 price objective on the stock. Wolfe Research cut shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Morgan Stanley increased their target price on Kinder Morgan from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, Mizuho lifted their price target on Kinder Morgan from $31.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinder Morgan has an average rating of “Hold” and a consensus price target of $34.71.

Kinder Morgan Company Profile

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.