SignalPoint Asset Management LLC Has $816,000 Stake in Kinder Morgan, Inc. (KMI)
SignalPoint Asset Management LLC reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 42,568 shares of the pipeline company’s stock after selling 261 shares during the period. SignalPoint Asset Management LLC’s holdings in Kinder Morgan were worth $816,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of KMI. Pictet Asset Management Ltd. boosted its position in shares of Kinder Morgan by 2.7% in the second quarter. Pictet Asset Management Ltd. now owns 4,413,379 shares of the pipeline company’s stock worth $82,795,000 after buying an additional 117,697 shares in the last quarter. Beach Investment Management LLC. boosted its position in shares of Kinder Morgan by 278.6% in the second quarter. Beach Investment Management LLC. now owns 138,296 shares of the pipeline company’s stock worth $2,650,000 after buying an additional 101,766 shares in the last quarter. Lucas Capital Management bought a new position in shares of Kinder Morgan during the second quarter worth $311,000. Korea Investment CORP boosted its position in shares of Kinder Morgan by 14.7% in the second quarter. Korea Investment CORP now owns 882,112 shares of the pipeline company’s stock worth $16,901,000 after buying an additional 113,133 shares in the last quarter. Finally, Parsec Financial Management Inc. boosted its position in shares of Kinder Morgan by 4.2% in the second quarter. Parsec Financial Management Inc. now owns 839,209 shares of the pipeline company’s stock worth $16,079,000 after buying an additional 33,749 shares in the last quarter. 57.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kinder Morgan, Inc. (KMI) opened at 18.85 on Wednesday. The firm has a market capitalization of $42.10 billion, a price-to-earnings ratio of 62.21 and a beta of 0.64. The stock’s 50 day moving average price is $19.69 and its 200 day moving average price is $20.45. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data 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 firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. Analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.65%. Kinder Morgan’s payout ratio is presently 161.29%.
Kinder Morgan declared that its board has authorized a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of brokerages recently weighed in on KMI. BMO Capital Markets reissued a “buy” rating and issued a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. Mizuho assumed coverage on Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price on the stock. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. One investment 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 company currently has a consensus rating of “Buy” and a consensus price target of $23.91.
In other news, Director William A. Smith acquired 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired 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 owns 14,587 shares in the company, valued at $295,240.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dax Sanders acquired 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 507,503 shares of company stock valued at $9,437,597. 13.99% of the stock is owned by corporate 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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