New Mexico Educational Retirement Board decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,430 shares of the pipeline company’s stock after selling 16,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Kinder Morgan were worth $3,645,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First Bank & Trust raised its stake in shares of Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares in the last quarter. Trust Co. of Vermont raised 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 buying an additional 675 shares in the last quarter. CWM LLC raised its position in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock worth $154,000 after buying an additional 7,127 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after buying an additional 60 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its position in Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock worth $171,000 after buying an additional 1,359 shares in the last quarter. Hedge funds and other institutional investors own 57.40% of the company’s stock.

Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 18.71 on Thursday. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36. The stock has a market cap of $41.78 billion, a P/E ratio of 61.75 and a beta of 0.64. The stock has a 50 day moving average of $19.68 and a 200 day moving average of $20.44.

Kinder Morgan (NYSE:KMI) last announced its 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. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Equities analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.67%. Kinder Morgan’s dividend payout ratio is presently 161.29%.

Kinder Morgan declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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KMI has been the topic of a number of recent research reports. BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. TD Securities set a $26.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Vetr lowered shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective on the stock. in a research note on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. One 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 company has an average rating of “Buy” and a consensus target price of $23.91.

In related news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the transaction, the insider now directly owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. Insiders purchased a total of 507,503 shares of company stock valued at $9,437,597 in the last quarter. 13.99% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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