Kinder Morgan, Inc. (KMI) Shares Sold by Cutter & CO Brokerage Inc.
Cutter & CO Brokerage Inc. reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,160 shares of the pipeline company’s stock after selling 6,140 shares during the period. Kinder Morgan makes up about 1.2% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 18th largest position. Cutter & CO Brokerage Inc.’s holdings in Kinder Morgan were worth $3,164,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of KMI. First Bank & Trust increased 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 worth $103,000 after buying an additional 408 shares during the last quarter. Trust Co. of Vermont raised its stake 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 stake 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. Security National Trust Co. raised its stake in Kinder Morgan by 8.4% in the second quarter. Security National Trust Co. now owns 8,129 shares of the pipeline company’s stock worth $155,000 after buying an additional 630 shares in the last quarter. Finally, Guardian Life Insurance Co. of America raised its stake 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. 59.14% of the stock is owned by institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.01 on Tuesday. The company has a market capitalization of $42.45 billion, a P/E ratio of 62.74 and a beta of 0.64. The stock’s 50 day moving average price is $19.59 and its 200-day moving average price is $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 issued its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan, Inc. will post $0.65 earnings per share for the current year.
Kinder Morgan announced that its Board of Directors has initiated a share buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid 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 2.63%. Kinder Morgan’s payout ratio is presently 161.29%.
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A number of analysts have recently issued reports on the stock. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Kinder Morgan in a report on Friday, July 28th. Mizuho started coverage on Kinder Morgan in a report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Sanford C. Bernstein started coverage on Kinder Morgan in a report on Tuesday, May 16th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $23.91.
In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of the business’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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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