Oakbrook Investments LLC Has $1.78 Million Position in Kinder Morgan, Inc. (NYSE:KMI)
Oakbrook Investments LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,850 shares of the pipeline company’s stock after selling 6,150 shares during the period. Oakbrook Investments LLC’s holdings in Kinder Morgan were worth $1,779,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in Kinder Morgan during the fourth quarter valued at $305,000. Quadrature Capital Ltd purchased a new stake in Kinder Morgan during the fourth quarter valued at $3,685,000. Ibex Wealth Advisors increased its stake in Kinder Morgan by 10.1% in the fourth quarter. Ibex Wealth Advisors now owns 21,168 shares of the pipeline company’s stock valued at $476,000 after buying an additional 1,937 shares during the period. Orbis Allan Gray Ltd increased its stake in Kinder Morgan by 10.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,332,985 shares of the pipeline company’s stock valued at $27,606,000 after buying an additional 122,195 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in Kinder Morgan during the fourth quarter valued at $2,885,000. 57.70% of the stock is currently owned by institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down 0.25% during mid-day trading on Monday, reaching $20.15. The company had a trading volume of 7,177,112 shares. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The firm has a 50-day moving average of $19.45 and a 200-day moving average of $20.64. The company has a market capitalization of $45.00 billion, a P/E ratio of 66.50 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, equities analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has approved a stock buyback program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued 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 dividend yield of 2.48%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
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Several equities research analysts recently weighed in on KMI shares. Macquarie started coverage on Kinder Morgan in a report on Friday, April 21st. They set a “neutral” rating and a $21.00 price objective on the stock. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, April 20th. Vetr downgraded Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 target price on the stock. in a report on Monday, April 24th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Finally, Sanford C. Bernstein initiated coverage on Kinder Morgan in a 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 given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $23.91.
In related news, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was acquired at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the acquisition, the insider now directly owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Smith acquired 4,903 shares of the stock in a transaction on 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 acquisition, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 507,503 shares of company stock valued at $9,437,597. 13.99% of the stock is currently owned by company insiders.
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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