Gamble Jones Investment Counsel Sells 819 Shares of Kinder Morgan, Inc. (NYSE:KMI)
Gamble Jones Investment Counsel decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,327 shares of the pipeline company’s stock after selling 819 shares during the period. Gamble Jones Investment Counsel’s holdings in Kinder Morgan were worth $485,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in KMI. Vanguard Group Inc. increased its position in Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after buying an additional 6,222,962 shares during the period. Dimensional Fund Advisors LP increased its position in Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after buying an additional 3,483,039 shares during the period. TIAA CREF Investment Management LLC increased its position in Kinder Morgan by 49.5% in the first quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock worth $219,271,000 after buying an additional 3,340,309 shares during the period. Pictet Asset Management Ltd. increased its position in Kinder Morgan by 315.2% in the first quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock worth $93,388,000 after buying an additional 3,261,140 shares during the period. Finally, Eagle Global Advisors LLC increased its position in Kinder Morgan by 164.4% in the first quarter. Eagle Global Advisors LLC now owns 4,192,327 shares of the pipeline company’s stock worth $91,141,000 after buying an additional 2,606,772 shares during the period. 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’s 50 day moving average price is $19.68 and its 200 day moving average price is $20.53. The firm has a market capitalization of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ 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 previous 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 expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan declared that its board has initiated a share repurchase program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s payout ratio is 161.29%.
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A number of equities analysts have weighed in on KMI shares. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Zacks Investment Research cut Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Wells Fargo & Company reiterated an “outperform” rating and set a $25.00 price objective (down previously from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $25.00 price objective on shares of Kinder Morgan in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.91.
In other news, Director William A. Smith acquired 4,903 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the acquisition, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the acquisition, the insider now directly owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 507,503 shares of company stock valued at $9,437,597. 13.99% of the stock is owned by company insiders.
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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