Kinder Morgan, Inc. (KMI) Stake Raised by Eagle Global Advisors LLC
Eagle Global Advisors LLC boosted its position in Kinder Morgan, Inc. (NYSE:KMI) by 54.8% during the second quarter, Holdings Channel reports. The fund owned 6,487,737 shares of the pipeline company’s stock after buying an additional 2,295,410 shares during the period. Kinder Morgan makes up approximately 3.6% of Eagle Global Advisors LLC’s holdings, making the stock its 6th largest position. Eagle Global Advisors LLC’s holdings in Kinder Morgan were worth $124,305,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Moody Lynn & Lieberson LLC increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) opened at 19.75 on Thursday. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36. The company has a 50-day moving average of $19.64 and a 200-day moving average of $20.56. The company has a market cap of $44.11 billion, a price-to-earnings ratio of 65.18 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its quarterly 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. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. Kinder Morgan’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.125 per share. 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 payout ratio is presently 161.29%.
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A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $25.00 price objective on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $23.00 price target (down from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. TD Securities set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Mizuho started coverage on shares of Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $25.00 price target (down from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Kinder Morgan presently has an average rating of “Buy” and an average price target of $23.91.
In related news, VP Dax Sanders purchased 2,600 shares of Kinder Morgan stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $18.60 per share, for a total transaction of $48,360.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the acquisition, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The disclosure for this purchase can be found here. Insiders have bought 507,503 shares of company stock valued at $9,437,597 over the last 90 days. Corporate 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.
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