Birmingham Capital Management Co. Inc. AL Decreases Stake in Kinder Morgan, Inc. (NYSE:KMI)
Birmingham Capital Management Co. Inc. AL reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 50,316 shares of the pipeline company’s stock after selling 1,035 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Kinder Morgan were worth $964,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bollard Group LLC raised its position in shares of Kinder Morgan by 13.9% in the first quarter. Bollard Group LLC now owns 319,892 shares of the pipeline company’s stock valued at $6,954,000 after buying an additional 39,142 shares in the last quarter. Greylin Investment Mangement Inc. raised its position in shares of Kinder Morgan by 16.6% in the first quarter. Greylin Investment Mangement Inc. now owns 34,300 shares of the pipeline company’s stock valued at $746,000 after buying an additional 4,875 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Kinder Morgan by 2.1% in the first quarter. Duff & Phelps Investment Management Co. now owns 4,005,541 shares of the pipeline company’s stock valued at $87,080,000 after buying an additional 81,595 shares in the last quarter. DnB Asset Management AS raised its position in shares of Kinder Morgan by 15.6% in the first quarter. DnB Asset Management AS now owns 225,173 shares of the pipeline company’s stock valued at $4,895,000 after buying an additional 30,443 shares in the last quarter. Finally, SFE Investment Counsel raised its position 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 valued at $1,132,000 after buying an additional 9,343 shares in the last quarter. 57.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.07 on Friday. The stock has a market capitalization of $42.59 billion, a P/E ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 52 week low of $18.31 and a 52 week high of $23.36. The firm’s 50-day moving average price is $19.68 and its 200 day moving average price is $20.53.
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 analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. 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. Stockholders of record on Monday, July 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s payout ratio is presently 161.29%.
Kinder Morgan announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages have recently issued reports on KMI. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Macquarie started coverage on Kinder Morgan in a research report on Friday, April 21st. They issued a “neutral” rating and a $21.00 target price for the company. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. BMO Capital Markets restated a “buy” rating and issued a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.91.
In related news, VP Dax Sanders acquired 2,600 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost 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, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were bought at an average cost of $20.24 per share, for a total transaction 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. Over the last ninety days, insiders have bought 507,503 shares of company stock worth $9,437,597. 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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