Parametric Portfolio Associates LLC Purchases 473,248 Shares of Kinder Morgan, Inc. (KMI)
Parametric Portfolio Associates LLC lifted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,706,799 shares of the pipeline company’s stock after buying an additional 473,248 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.17% of Kinder Morgan worth $71,022,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of KMI. Vanguard Group Inc. grew its holdings in shares of Kinder Morgan by 4.7% during 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 in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Kinder Morgan by 45.9% during the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after buying an additional 6,205,165 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kinder Morgan by 56.2% during 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 in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Kinder Morgan by 49.5% during 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 in the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in shares of Kinder Morgan by 164.4% during 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 in the last quarter. Institutional investors and hedge funds own 59.12% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) opened at 19.27 on Monday. The firm’s 50-day moving average is $19.31 and its 200-day moving average is $19.94. The firm has a market capitalization of $43.03 billion, a PE ratio of 63.60 and a beta of 0.65. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36. Kinder Morgan also was the recipient of unusually large options trading on Friday. Stock traders bought 465 call options on the company. This represents an increase of approximately 122% compared to the typical daily volume of 209 call options.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has approved a share repurchase program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently commented on KMI. BidaskClub downgraded shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Stifel Nicolaus set a $25.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, August 17th. Jefferies Group LLC restated a “hold” rating and issued a $20.00 target price on shares of Kinder Morgan in a report on Thursday, July 20th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Mizuho initiated coverage on shares of Kinder Morgan in a report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan presently has a consensus rating of “Buy” and an average price target of $23.84.
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In other news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $295,240.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.99% of the company’s stock.
Kinder Morgan 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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