Sumitomo Life Insurance Co. raised its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 68,530 shares of the pipeline company’s stock after buying an additional 2,888 shares during the period. Sumitomo Life Insurance Co.’s holdings in Kinder Morgan were worth $1,313,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Narwhal Capital Management increased its stake in Kinder Morgan by 44.7% in the first quarter. Narwhal Capital Management now owns 62,110 shares of the pipeline company’s stock worth $1,350,000 after buying an additional 19,180 shares during the last quarter. Karpas Strategies LLC increased its stake in Kinder Morgan by 0.5% in the first quarter. Karpas Strategies LLC now owns 100,715 shares of the pipeline company’s stock worth $2,190,000 after buying an additional 550 shares during the last quarter. Everett Harris & Co. CA increased its stake in Kinder Morgan by 12.9% in the first quarter. Everett Harris & Co. CA now owns 127,345 shares of the pipeline company’s stock worth $2,768,000 after buying an additional 14,502 shares during the last quarter. NBW Capital LLC increased its stake in Kinder Morgan by 3.2% in the first quarter. NBW Capital LLC now owns 424,079 shares of the pipeline company’s stock worth $9,219,000 after buying an additional 13,284 shares during the last quarter. Finally, Swiss National Bank increased its stake in Kinder Morgan by 27.2% in the first quarter. Swiss National Bank now owns 6,723,469 shares of the pipeline company’s stock worth $146,168,000 after buying an additional 1,438,600 shares during the last quarter. 57.70% of the stock is currently owned by institutional investors.

Kinder Morgan, Inc. (KMI) opened at 19.75 on Thursday. The stock has a 50 day moving average of $19.64 and a 200-day moving average of $20.56. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The company has a market capitalization of $44.11 billion, a PE 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 (EPS) 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 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Equities analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.

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

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

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A number of equities research analysts recently issued reports on KMI shares. Wolfe Research downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $26.00 to $21.00 in a research note on Tuesday, May 30th. Credit Suisse Group set a $27.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Wednesday, May 31st. Morgan Stanley reissued an “overweight” rating and issued a $25.00 target price on shares of Kinder Morgan in a research note on Monday, July 3rd. Finally, BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.91.

In other Kinder Morgan news, VP Dax Sanders purchased 2,600 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Smith purchased 4,903 shares of the business’s stock in a transaction on 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 purchase, 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 acquired 507,503 shares of company stock worth $9,437,597 over the last quarter. 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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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