Beach Investment Management LLC. increased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 278.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,296 shares of the pipeline company’s stock after purchasing an additional 101,766 shares during the quarter. Beach Investment Management LLC.’s holdings in Kinder Morgan were worth $2,650,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of KMI. Vanguard Group Inc. boosted its holdings in Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after purchasing an additional 6,222,962 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after acquiring an additional 3,483,039 shares during the period. TIAA CREF Investment Management LLC raised its position in Kinder Morgan by 49.5% in 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 acquiring an additional 3,340,309 shares during the period. Pictet Asset Management Ltd. raised its position in Kinder Morgan by 315.2% in the first quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock worth $93,388,000 after acquiring an additional 3,261,140 shares during the period. Finally, Eagle Global Advisors LLC raised its position in Kinder Morgan by 164.4% in the first quarter. Eagle Global Advisors LLC now owns 4,192,327 shares of the pipeline company’s stock worth $91,141,000 after acquiring an additional 2,606,772 shares during the period. Institutional investors own 59.15% of the company’s stock.
In other news, Director William A. Smith purchased 4,903 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $20.24 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.99% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE KMI) opened at 19.36 on Wednesday. The stock’s 50 day moving average is $19.48 and its 200 day moving average is $20.03. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36. The company has a market capitalization of $43.24 billion, a P/E ratio of 63.89 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company posted $0.15 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan declared that its board has authorized a share buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Several research analysts have weighed in on KMI shares. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Mizuho started coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target on the stock. 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 company’s stock. Kinder Morgan currently has a consensus rating of “Buy” and an average price target of $23.91.
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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