HOUSTON—Thomas A. Martin, President of Kinder Morgan , Inc. (NYSE:KMI), recently sold 18,000 shares of the company’s Class P Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $27.3377 per share, totaling approximately $492,078.
The transaction, executed on December 4, was conducted under a pre-arranged 10b5-1 trading plan, which Martin adopted on August 2, 2024. Following this sale, Martin directly owns 879,652 shares of Kinder Morgan.
Additionally, Martin holds 277,950 shares indirectly through a trust established for his family members. Martin has shared voting and disposition power over these shares but disclaims beneficial ownership.
Kinder Morgan, headquartered in Houston, operates in the natural gas transmission industry.
In other recent news, analysts have updated their outlook on energy infrastructure company Kinder Morgan. Citi raised its price target for the company to $25, maintaining a neutral stance, while RBC Capital Markets increased their target from $24 to $26, also maintaining a Sector Perform rating. Both firms highlighted Kinder Morgan's potential for growth, driven by increasing demand for natural gas. Goldman Sachs maintained a Conviction Buy rating and raised the stock's price target to $26, citing constructive third-quarter results and potential to capitalize on the growing natural gas demand.
CFRA maintained a Buy rating on Kinder Morgan and raised the stock's price target from $24 to $28, reflecting the growing demand for natural gas logistics. BofA Securities initiated coverage with a Buy rating and a $27 price target, noting an expected improvement in the company's base business. Truist Securities raised its price target to $25, maintaining a Hold rating, due to Kinder Morgan's strong performance and potential for further growth.
In the company's recent quarterly update, Kinder Morgan reported a 2% year-over-year increase in EBITDA and stable earnings per share. The company also announced a $3 billion South System Expansion 4 Project, anticipating significant growth in natural gas demand. The board declared a quarterly dividend of $0.2875 per share, marking a 2% increase from the previous year. These developments showcase recent progress and future potential for the company.
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