Bender Robert & Associates Sells 433 Shares of Kinder Morgan, Inc. (KMI)
Bender Robert & Associates cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,579 shares of the pipeline company’s stock after selling 433 shares during the period. Kinder Morgan accounts for 0.5% of Bender Robert & Associates’ holdings, making the stock its 26th largest position. Bender Robert & Associates’ holdings in Kinder Morgan were worth $854,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 buying an additional 6,222,962 shares during the period. Dimensional Fund Advisors LP increased its stake 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 buying an additional 3,483,039 shares during the period. TIAA CREF Investment Management LLC increased its stake 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 buying an additional 3,340,309 shares during the period. Pictet Asset Management Ltd. increased its stake 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 buying an additional 3,261,140 shares during the period. Finally, Eagle Global Advisors LLC increased its stake 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 buying an additional 2,606,772 shares during the period. Institutional investors own 57.40% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) opened at 18.55 on Monday. The firm’s 50-day moving average is $19.65 and its 200-day moving average is $20.40. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The company has a market capitalization of $41.43 billion, a PE ratio of 61.22 and a beta of 0.64.
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 consensus estimate of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio is presently 161.29%.
Kinder Morgan declared that its board has authorized a stock repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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KMI has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Wells Fargo & Company reiterated an “outperform” rating and issued a $25.00 price objective (down from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan currently has an average rating of “Buy” and a consensus target price of $23.91.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost 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 approximately $4,360,955,518.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 507,503 shares of company stock valued at $9,437,597. Insiders own 13.99% of the company’s stock.
About Kinder Morgan
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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