Sequent Asset Management LLC Has $225,000 Stake in Kinder Morgan, Inc. (KMI)
Sequent Asset Management LLC decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 17.5% during the second quarter, Holdings Channel reports. The fund owned 11,738 shares of the pipeline company’s stock after selling 2,489 shares during the period. Sequent Asset Management LLC’s holdings in Kinder Morgan were worth $225,000 at the end of the most recent reporting period.
A number of 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.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.75 on Thursday. The firm has a market capitalization of $44.11 billion, a P/E ratio of 65.18 and a beta of 0.64. The company’s 50-day moving average is $19.64 and its 200 day moving average is $20.56. Kinder Morgan, Inc. has a 52-week low of $18.31 and a 52-week high of $23.36.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. Analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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A number of brokerages have issued reports on KMI. 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. reiterated a “strong-buy” rating and set a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. TD Securities set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Mizuho began coverage on shares of Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $25.00 price objective (down from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.91.
In other news, VP Dax Sanders bought 2,600 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average price of $18.60 per share, with a total value of $48,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the purchase, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 507,503 shares of company stock valued at $9,437,597. 13.99% of the stock is owned by insiders.
Kinder Morgan Company Profile
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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