Teachers Advisors LLC Increases Stake in Kinder Morgan, Inc. (KMI)
Teachers Advisors LLC grew its position in Kinder Morgan, Inc. (NYSE:KMI) by 7.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,624,553 shares of the pipeline company’s stock after acquiring an additional 253,375 shares during the period. Teachers Advisors LLC owned 0.16% of Kinder Morgan worth $69,446,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Heritage Trust Co lifted its stake in shares of Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after acquiring an additional 4,302 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of Kinder Morgan in the 2nd quarter valued at $115,000. Trust Co. of Vermont lifted its stake in shares of Kinder Morgan by 71.5% in the 1st quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 2,719 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Kinder Morgan by 14.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after acquiring an additional 819 shares during the last quarter. Finally, Guardian Life Insurance Co. of America lifted its stake in shares of Kinder Morgan by 0.8% in the 1st quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.
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Kinder Morgan, Inc. (NYSE KMI) opened at 19.35 on Friday. The company has a market capitalization of $43.21 billion, a price-to-earnings ratio of 63.86 and a beta of 0.65. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The stock has a 50 day moving average price of $19.40 and a 200 day moving average price of $20.01.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the 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 net margin of 6.20% and a return on equity of 4.41%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.15 earnings per share. Equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, with a total value of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.99% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Stifel Nicolaus set a $25.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a research note on Thursday, July 20th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Mizuho assumed coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target for the company. 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 company. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.91.
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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