Airain ltd Sells 207,483 Shares of Kinder Morgan, Inc. (KMI)
Airain ltd cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 50.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,224 shares of the pipeline company’s stock after selling 207,483 shares during the period. Airain ltd’s holdings in Kinder Morgan were worth $3,913,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Agran Libbie boosted its stake in Kinder Morgan by 9.6% in the first quarter. Agran Libbie now owns 275,909 shares of the pipeline company’s stock worth $5,998,000 after buying an additional 24,087 shares during the period. Hoertkorn Richard Charles boosted its stake in Kinder Morgan by 1.2% in the first quarter. Hoertkorn Richard Charles now owns 182,375 shares of the pipeline company’s stock worth $3,965,000 after buying an additional 2,200 shares during the period. First Bank & Trust boosted its stake in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock worth $103,000 after buying an additional 408 shares during the period. Hennessy Advisors Inc. boosted its stake in Kinder Morgan by 1.8% in the first quarter. Hennessy Advisors Inc. now owns 3,414,101 shares of the pipeline company’s stock worth $74,223,000 after buying an additional 60,000 shares during the period. Finally, Financial Architects Inc boosted its stake in Kinder Morgan by 20.1% in the first quarter. Financial Architects Inc now owns 11,831 shares of the pipeline company’s stock worth $257,000 after buying an additional 1,982 shares during the period. Hedge funds and other institutional investors own 59.14% of the company’s stock.
Kinder Morgan, Inc. (KMI) opened at 19.01 on Tuesday. The firm has a market cap of $42.45 billion, a price-to-earnings ratio of 62.74 and a beta of 0.64. The company has a 50-day moving average of $19.59 and a 200 day moving average of $20.27. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 net margin of 6.20% and a return on equity of 4.41%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $0.15 earnings per share. Kinder Morgan’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post $0.65 EPS for the current year.
Kinder Morgan declared that its board has approved a share 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders 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 dividend yield of 2.63%. Kinder Morgan’s dividend payout ratio (DPR) is currently 161.29%.
KMI has been the subject of a number of recent analyst reports. Wolfe Research cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $26.00 to $21.00 in a report on Tuesday, May 30th. Morgan Stanley restated an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a report on Monday, July 3rd. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. BMO Capital Markets set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $23.00 price target on shares of Kinder Morgan in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Kinder Morgan presently has a consensus rating of “Buy” and a consensus target price of $23.91.
In other news, Director William A. Smith acquired 4,903 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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