Country Trust Bank acquired a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 625,378 shares of the pipeline company’s stock, valued at approximately $11,982,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Moody Lynn & Lieberson LLC boosted its position in Kinder Morgan by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock worth $403,000 after buying an additional 50 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after buying an additional 60 shares during the last quarter. Sippican Capital Advisors boosted its position in Kinder Morgan by 0.7% in the first quarter. Sippican Capital Advisors now owns 11,165 shares of the pipeline company’s stock worth $243,000 after buying an additional 75 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its position in Kinder Morgan by 0.8% in the first quarter. San Francisco Sentry Investment Group CA now owns 12,186 shares of the pipeline company’s stock worth $265,000 after buying an additional 101 shares during the last quarter. Finally, Chatham Capital Group Inc. boosted its position in Kinder Morgan by 0.5% in the first quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock worth $869,000 after buying an additional 200 shares during the last quarter. 57.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kinder Morgan, Inc. (NYSE KMI) opened at 19.75 on Thursday. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The firm has a 50-day moving average price of $19.64 and a 200-day moving average price of $20.56. The company has a market cap of $44.11 billion, a P/E ratio of 65.18 and a beta of 0.64.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. On average, equities analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current year.

Kinder Morgan announced that its board has approved a stock repurchase plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.125 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.53%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.

TRADEMARK VIOLATION WARNING: “Country Trust Bank Takes Position in Kinder Morgan, Inc. (NYSE:KMI)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/10/country-trust-bank-takes-position-in-kinder-morgan-inc-nysekmi.html.

A number of research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $25.00 price objective on shares of Kinder Morgan in a research report on Friday, July 14th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research report on Tuesday, June 20th. TD Securities set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Mizuho assumed coverage on Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $25.00 price objective (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.91.

In other news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the transaction, the director now directly owns 14,587 shares in the company, valued at approximately $295,240.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average price of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 507,503 shares of company stock worth $9,437,597. Company insiders own 13.99% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI).

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

Receive News & Ratings for Kinder Morgan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.