Redwood Wealth Management Group LLC Trims Position in Kinder Morgan, Inc. $KMI

by · The Markets Daily

Redwood Wealth Management Group LLC trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 93,019 shares of the pipeline company’s stock after selling 2,036 shares during the period. Kinder Morgan comprises 1.2% of Redwood Wealth Management Group LLC’s holdings, making the stock its 20th biggest position. Redwood Wealth Management Group LLC’s holdings in Kinder Morgan were worth $2,735,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC grew its stake in Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 788 shares in the last quarter. Cranbrook Wealth Management LLC grew its stake in Kinder Morgan by 116.1% during the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 562 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Kinder Morgan during the second quarter valued at $34,000. Clearstead Trust LLC purchased a new position in Kinder Morgan during the first quarter valued at $40,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Kinder Morgan during the first quarter valued at $46,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Dax Sanders sold 30,127 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president owned 292,000 shares in the company, valued at approximately $7,898,600. This trade represents a 9.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $28.17, for a total transaction of $173,696.22. Following the completion of the sale, the vice president owned 219,702 shares of the company’s stock, valued at $6,189,005.34. This trade represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,625 shares of company stock worth $2,454,128 over the last 90 days. Insiders own 12.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KMI shares. Jefferies Financial Group started coverage on shares of Kinder Morgan in a research note on Thursday, October 9th. They set a “hold” rating and a $30.00 target price for the company. Stifel Nicolaus increased their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Scotiabank dropped their price objective on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Wells Fargo & Company lifted their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley set a $30.00 price objective on shares of Kinder Morgan in a research note on Thursday, October 9th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

Check Out Our Latest Report on KMI

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $26.19 on Friday. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48. The stock has a market capitalization of $58.26 billion, a P/E ratio of 21.46, a PEG ratio of 3.01 and a beta of 0.78. The firm has a fifty day simple moving average of $27.23 and a two-hundred day simple moving average of $27.44. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.98.

Kinder Morgan (NYSE:KMI – Get Free Report) last released its earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The firm 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 business’s revenue was up 12.1% on a year-over-year basis. During the same quarter 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 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, November 3rd. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

About Kinder Morgan

(Free Report)

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.

See Also

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