Kinder Morgan, Inc. (NYSE:KMI) Stake Increased by American Research & Management Co.
American Research & Management Co. boosted its stake in Kinder Morgan, Inc. (NYSE:KMI) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 28,790 shares of the pipeline company’s stock after buying an additional 701 shares during the period. American Research & Management Co.’s holdings in Kinder Morgan were worth $552,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of KMI. First Bank & Trust raised its position in shares of Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock worth $103,000 after buying an additional 408 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after buying an additional 675 shares in the last quarter. CWM LLC raised its position in shares of Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock worth $154,000 after buying an additional 7,127 shares in the last quarter. Guardian Life Insurance Co. of America raised its position 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 in the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock worth $171,000 after buying an additional 1,359 shares in the last quarter. 57.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.39 on Friday. The firm has a market cap of $43.30 billion, a P/E ratio of 63.99 and a beta of 0.64. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36. The stock’s 50 day moving average is $19.67 and its 200-day moving average is $20.55.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The company also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is presently 161.29%.
Kinder Morgan declared that its board has authorized a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of Kinder Morgan in a research note on Friday, June 23rd. 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. Finally, Sanford C. Bernstein assumed coverage on shares of Kinder Morgan in a research note on Tuesday, May 16th. They issued a “market perform” rating on the stock. 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 issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $23.91.
In other news, VP Dax Sanders acquired 2,600 shares of the business’s stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard D. Kinder acquired 500,000 shares of the business’s stock in a transaction dated 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 transaction, 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 three months, insiders bought 507,503 shares of company stock valued at $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.
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