CWA Asset Management Group LLC Has $652,000 Stake in Kinder Morgan, Inc. (NYSE:KMI)
CWA Asset Management Group LLC lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 62.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,001 shares of the pipeline company’s stock after selling 50,950 shares during the period. CWA Asset Management Group LLC’s holdings in Kinder Morgan were worth $652,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wexford Capital LP boosted its position in shares of Kinder Morgan by 114.1% in the first quarter. Wexford Capital LP now owns 1,159,447 shares of the pipeline company’s stock worth $25,206,000 after buying an additional 617,808 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Kinder Morgan by 24.2% in the first quarter. Teacher Retirement System of Texas now owns 1,440,145 shares of the pipeline company’s stock worth $31,309,000 after buying an additional 280,157 shares during the period. Ngam Advisors L.P. boosted its position in shares of Kinder Morgan by 31.0% in the first quarter. Ngam Advisors L.P. now owns 42,537 shares of the pipeline company’s stock worth $925,000 after buying an additional 10,067 shares during the period. Sentry Investment Management LLC boosted its position in shares of Kinder Morgan by 0.4% in the first quarter. Sentry Investment Management LLC now owns 151,289 shares of the pipeline company’s stock worth $3,289,000 after buying an additional 598 shares during the period. Finally, Capital Planning Advisors LLC purchased a new position in shares of Kinder Morgan during the first quarter worth approximately $367,000. Institutional investors own 57.65% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down 0.15% on Friday, hitting $20.20. The company’s stock had a trading volume of 6,071,795 shares. The company has a 50 day moving average of $19.45 and a 200 day moving average of $20.64. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The firm has a market cap of $45.11 billion, a PE ratio of 66.67 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 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the firm posted $0.15 EPS. Kinder Morgan’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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 issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is presently 161.29%.
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A number of equities research analysts have issued reports on KMI shares. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $25.00 price target (down previously from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. 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’s stock. The company presently has a consensus rating of “Buy” and an average target price of $23.91.
In other news, VP Dax Sanders purchased 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $18.60 per share, with a total value of $48,360.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William A. Smith purchased 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, with a total value of $99,236.72. Following the acquisition, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The disclosure for this purchase can be found here. Insiders have acquired a total of 507,503 shares of company stock valued at $9,437,597 in the last ninety days. Company 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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