A number of other hedge funds also recently bought and sold shares of KMI. Park National Corp OH raised its stake in Kinder Morgan by 4.0% in the first quarter. Park National Corp OH now owns 13,939 shares of the pipeline company’s stock worth $303,000 after buying an additional 542 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Kinder Morgan by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,664 shares of the pipeline company’s stock worth $36,168,000 after buying an additional 35,839 shares in the last quarter. Pure Financial Advisors Inc. bought a new stake in Kinder Morgan during the first quarter worth $212,000. Confluence Investment Management LLC raised its stake in Kinder Morgan by 13.8% in the first quarter. Confluence Investment Management LLC now owns 3,257,214 shares of the pipeline company’s stock worth $70,812,000 after buying an additional 394,935 shares in the last quarter. Finally, Acropolis Investment Management LLC raised its stake in Kinder Morgan by 19.7% in the first quarter. Acropolis Investment Management LLC now owns 25,490 shares of the pipeline company’s stock worth $554,000 after buying an additional 4,195 shares in the last quarter. Institutional investors own 57.65% of the company’s stock.
Hoertkorn Richard Charles increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,075 shares of the pipeline company’s stock after buying an additional 19,700 shares during the period. Kinder Morgan makes up approximately 2.6% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 16th largest position. Hoertkorn Richard Charles’ holdings in Kinder Morgan were worth $3,872,000 as of its most recent SEC filing.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down 0.20% during trading on Wednesday, reaching $20.31. The company had a trading volume of 1,947,226 shares. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The firm has a 50-day moving average of $19.45 and a 200 day moving average of $20.64. The firm has a market capitalization of $45.36 billion, a PE ratio of 67.03 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm earned $0.15 earnings per share. Kinder Morgan’s revenue was up 7.1% on a year-over-year basis. Analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a $0.125 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.46%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
KMI has been the subject of a number of analyst reports. Macquarie initiated coverage on Kinder Morgan in a report on Friday, April 21st. They set a “neutral” rating and a $21.00 target price for the company. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, April 20th. Vetr lowered Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 target price for the company. in a report on Monday, April 24th. Wells Fargo & Company restated an “outperform” rating and set a $25.00 target price (down previously from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Finally, Sanford C. Bernstein initiated coverage on Kinder Morgan in a report on Tuesday, May 16th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.91.
In related news, VP Dax Sanders purchased 2,600 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $18.60 per share, with a total value of $48,360.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard D. Kinder purchased 500,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the transaction, 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 three months, insiders 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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