Lee Financial Co Maintains Position in Kinder Morgan, Inc. (KMI)
Lee Financial Co held its stake in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,467 shares of the pipeline company’s stock at the end of the second quarter. Lee Financial Co’s holdings in Kinder Morgan were worth $124,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. First Bank & Trust boosted its stake in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares during the period. Trust Co. of Vermont boosted its stake in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after buying an additional 675 shares during the period. CWM LLC boosted its stake in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock valued at $154,000 after buying an additional 7,127 shares during the period. Guardian Life Insurance Co. of America boosted its stake in 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 valued at $161,000 after buying an additional 60 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock valued at $171,000 after buying an additional 1,359 shares during the period. 57.70% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (NYSE KMI) opened at 19.07 on Friday. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The firm has a market capitalization of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. The firm’s 50-day moving average is $19.68 and its 200-day moving average is $20.53.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Kinder Morgan’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan announced that its board has initiated a stock repurchase 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 typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed 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 of this dividend is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.62%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
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A number of equities analysts recently weighed in on KMI shares. BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research report 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 report on Tuesday, June 20th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr cut shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective for the company. in a research report on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. One equities 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 given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.91.
In other Kinder Morgan news, VP Dax Sanders acquired 2,600 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of 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. Over the last quarter, insiders have 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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