Tudor Investment Corp ET AL trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 86.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,694 shares of the pipeline company’s stock after selling 135,488 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Kinder Morgan were worth $396,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in KMI. Heritage Trust Co increased its position in Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after purchasing an additional 4,302 shares during the period. Fiduciary Trust Co. acquired a new stake in Kinder Morgan in the second quarter worth about $115,000. Acrospire Investment Management LLC increased its position in Kinder Morgan by 30.7% in the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after purchasing an additional 1,600 shares during the period. Parallel Advisors LLC increased its position in Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 819 shares during the period. Finally, Trust Co. of Vermont increased its position in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 675 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) opened at 18.88 on Friday. The company has a market cap of $42.16 billion, a PE ratio of 62.31 and a beta of 0.65. Kinder Morgan, Inc. has a one year low of $18.23 and a one year high of $23.01. The firm’s 50-day moving average price is $19.23 and its 200-day moving average price is $19.70.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. On average, equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its board has approved a stock repurchase program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
KMI has been the subject of a number of research reports. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research report on Tuesday, June 20th. TD Securities set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada lowered their price objective on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.84.
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In related news, Director William A. Smith purchased 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was bought 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 filing with the SEC, which is accessible through this hyperlink. 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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