Sterling Investment Management Inc. reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,677 shares of the pipeline company’s stock after selling 184 shares during the period. Sterling Investment Management Inc.’s holdings in Kinder Morgan were worth $607,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Bollard Group LLC increased its stake in shares of Kinder Morgan by 13.9% in the first quarter. Bollard Group LLC now owns 319,892 shares of the pipeline company’s stock valued at $6,954,000 after buying an additional 39,142 shares in the last quarter. Greylin Investment Mangement Inc. increased its stake in Kinder Morgan by 16.6% in the first quarter. Greylin Investment Mangement Inc. now owns 34,300 shares of the pipeline company’s stock worth $746,000 after buying an additional 4,875 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Kinder Morgan by 2.1% in the first quarter. Duff & Phelps Investment Management Co. now owns 4,005,541 shares of the pipeline company’s stock worth $87,080,000 after buying an additional 81,595 shares during the period. DnB Asset Management AS increased its stake in Kinder Morgan by 15.6% in the first quarter. DnB Asset Management AS now owns 225,173 shares of the pipeline company’s stock worth $4,895,000 after buying an additional 30,443 shares during the period. Finally, SFE Investment Counsel increased its stake in Kinder Morgan by 21.9% in the first quarter. SFE Investment Counsel now owns 52,087 shares of the pipeline company’s stock worth $1,132,000 after buying an additional 9,343 shares during the period. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) opened at 19.07 on Friday. Kinder Morgan, Inc. has a 52 week low of $18.31 and a 52 week high of $23.36. The stock has a 50 day moving average of $19.68 and a 200 day moving average of $20.53. The firm has a market cap of $42.59 billion, a PE ratio of 62.94 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.62%. Kinder Morgan’s payout ratio is presently 161.29%.
Kinder Morgan announced that its Board of Directors has approved 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 often an indication that the company’s board of directors believes its stock is undervalued.
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A number of analysts have commented on KMI shares. Macquarie started coverage on shares of Kinder Morgan in a research report on Friday, April 21st. They set a “neutral” rating and a $21.00 price target on the stock. Credit Suisse Group set a $27.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Vetr downgraded shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price target on the stock. in a research report on Monday, April 24th. Wells Fargo & Company restated an “outperform” rating and set a $25.00 price target (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. Finally, Sanford C. Bernstein started coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.91.
In other Kinder Morgan news, VP Dax Sanders bought 2,600 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William A. Smith purchased 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was bought 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 $295,240.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 507,503 shares of company stock worth $9,437,597. Corporate insiders own 13.99% of the company’s stock.
Kinder Morgan Company 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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