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Kinder Morgan VP sells $987k in company stock

Published 2024/05/22, 22:54

Kinder Morgan , Inc. (NYSE:KMI) Vice President Dax Sanders, who oversees the company's Products Pipelines, has recently sold a significant portion of his stock in the company. On May 21, 2024, Sanders sold 50,000 shares of Kinder Morgan's Class P Common Stock at an average price of $19.7503, totaling approximately $987,515.

The transaction took place through multiple sales with prices ranging from $19.75 to $19.755 per share. Following the sale, Sanders's ownership in the company stands at 259,069 shares. The exact distribution of shares sold at each price point has not been disclosed, but Sanders has committed to providing this information upon request to the SEC staff, the issuer, or a security holder of the issuer.

Kinder Morgan, a leader in energy infrastructure with a focus on natural gas transmission, has not made any official statement regarding the transaction. The sale by a high-ranking executive is often of interest to investors, as it can sometimes reflect the executive's confidence in the company's future prospects.

As of now, there is no further information on whether Sanders plans to sell additional shares or the reasons behind this transaction. Shareholders and potential investors in Kinder Morgan are advised to consider this development in the context of their investment decisions.

InvestingPro Insights

Kinder Morgan, Inc. (NYSE:KMI) has recently witnessed a notable insider transaction, with Vice President Dax Sanders selling a significant portion of his holdings. While insider sales can prompt investor scrutiny, it's important to contextualize such actions with broader company performance indicators and market sentiment.

InvestingPro data highlights a stable market capitalization for Kinder Morgan at $43.03 billion, with a Price/Earnings (P/E) ratio sitting at 17.55. This P/E ratio has remained consistent when adjusted for the last twelve months as of Q1 2024, suggesting a steady valuation by the market of the company's earnings. Despite a revenue decline of 18.66% over the last twelve months as of Q1 2024, the company has managed a gross profit margin of nearly 50%, indicating robust cost management and profitability at the gross level.

An InvestingPro Tip worth noting is that Kinder Morgan has raised its dividend for 6 consecutive years, signaling confidence in its ability to generate sufficient cash flow to reward shareholders consistently. Additionally, the company has maintained dividend payments for 14 consecutive years, further reinforcing its commitment to shareholder returns. This is particularly relevant for investors seeking stable income streams. However, it's also important to be aware that 4 analysts have revised their earnings downwards for the upcoming period, which may warrant closer attention to the company's next earnings report on July 17, 2024.

For those interested in a deeper dive into Kinder Morgan's financials and performance metrics, InvestingPro offers additional insights and tips. Currently, there are 9 more InvestingPro Tips available for Kinder Morgan, which can be accessed by visiting https://www.investing.com/pro/KMI. Investors can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with valuable, real-time data and expert analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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