Roosevelt Investment Group Inc. lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,042 shares of the pipeline company’s stock after selling 242 shares during the period. Roosevelt Investment Group Inc.’s holdings in Kinder Morgan were worth $691,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in KMI. Vanguard Group Inc. grew its holdings in shares of Kinder Morgan by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock valued at $3,019,777,000 after purchasing an additional 6,222,962 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Kinder Morgan by 45.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock valued at $378,101,000 after purchasing an additional 6,205,165 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kinder Morgan by 56.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock valued at $210,507,000 after purchasing an additional 3,483,039 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Kinder Morgan by 49.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock valued at $219,271,000 after purchasing an additional 3,340,309 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in shares of Kinder Morgan by 315.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock valued at $93,388,000 after purchasing an additional 3,261,140 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded up 0.10% during midday trading on Tuesday, hitting $19.46. 2,095,342 shares of the stock were exchanged. The firm has a 50 day moving average of $19.48 and a 200-day moving average of $20.03. The stock has a market cap of $43.46 billion, a P/E ratio of 64.22 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 (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, July 27th. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan declared that its board has approved a share buyback program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director William A. Smith bought 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The shares were acquired at an average price 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.99% of the company’s stock.
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Several research firms recently commented on KMI. BidaskClub lowered 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. Sanford C. Bernstein began coverage on shares of Kinder Morgan in a report on Tuesday, May 16th. They set a “market perform” rating on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of Kinder Morgan in a report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Kinder Morgan currently has a consensus rating of “Buy” and a consensus target price 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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