Probity Advisors Inc. raised its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,183 shares of the pipeline company’s stock after buying an additional 2,238 shares during the period. Probity Advisors Inc.’s holdings in Kinder Morgan were worth $693,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SFE Investment Counsel raised its stake in shares of Kinder Morgan by 21.9% in the first quarter. SFE Investment Counsel now owns 52,087 shares of the pipeline company’s stock worth $1,132,000 after buying an additional 9,343 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of Kinder Morgan by 1.4% in the first quarter. Capital Investment Advisors LLC now owns 105,820 shares of the pipeline company’s stock worth $2,301,000 after buying an additional 1,469 shares in the last quarter. Washington Trust Bank raised its stake in shares of Kinder Morgan by 2.6% in the first quarter. Washington Trust Bank now owns 204,525 shares of the pipeline company’s stock worth $4,446,000 after buying an additional 5,267 shares in the last quarter. American Research & Management Co. raised its stake in shares of Kinder Morgan by 5.4% in the first quarter. American Research & Management Co. now owns 28,089 shares of the pipeline company’s stock worth $611,000 after buying an additional 1,450 shares in the last quarter. Finally, BLB&B Advisors LLC raised its stake in shares of Kinder Morgan by 2.6% in the first quarter. BLB&B Advisors LLC now owns 135,494 shares of the pipeline company’s stock worth $2,946,000 after buying an additional 3,467 shares in the last quarter. 57.70% of the stock is currently owned by 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 company has a 50-day moving average price of $19.64 and a 200-day moving average price of $20.56. The stock 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 earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s payout ratio is 161.29%.

Kinder Morgan announced that its Board of Directors has authorized a share buyback program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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Several equities research analysts have recently commented on the company. Macquarie assumed coverage on Kinder Morgan in a research note on Friday, April 21st. They set a “neutral” rating and a $21.00 price target on the stock. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, April 20th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. BMO Capital Markets reissued a “buy” rating and set a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. Finally, Mizuho assumed coverage on Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $23.91.

In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the acquisition, the insider now owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dax Sanders bought 2,600 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Insiders have purchased 507,503 shares of company stock valued at $9,437,597 over the last 90 days. 13.99% of the stock is currently owned by insiders.

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

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