American Century Companies Inc. Has $27.69 Million Position in Kinder Morgan, Inc. (KMI)
American Century Companies Inc. lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 55.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,445,203 shares of the pipeline company’s stock after selling 1,803,530 shares during the period. American Century Companies Inc. owned approximately 0.06% of Kinder Morgan worth $27,690,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Moody Lynn & Lieberson LLC raised its stake in shares of Kinder Morgan by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock valued at $403,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of 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 valued at $161,000 after buying an additional 60 shares in the last quarter. San Francisco Sentry Investment Group CA raised its stake in shares of Kinder Morgan by 0.8% in the first quarter. San Francisco Sentry Investment Group CA now owns 12,186 shares of the pipeline company’s stock valued at $265,000 after buying an additional 101 shares in the last quarter. Chatham Capital Group Inc. raised its stake in shares of Kinder Morgan by 0.5% in the first quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock valued at $869,000 after buying an additional 200 shares in the last quarter. Finally, ProVise Management Group LLC raised its stake in shares of Kinder Morgan by 0.5% in the first quarter. ProVise Management Group LLC now owns 50,352 shares of the pipeline company’s stock valued at $1,095,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 59.14% of the company’s stock.
Kinder Morgan, Inc. (KMI) opened at 19.33 on Friday. The company has a 50-day moving average of $19.58 and a 200-day moving average of $20.17. Kinder Morgan, Inc. has a 52 week low of $18.23 and a 52 week high of $23.36. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 63.80 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the 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 company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Kinder Morgan, Inc. will post $0.65 earnings per share for the current year.
Kinder Morgan declared that its Board of Directors has approved a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared 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 annualized dividend and a dividend yield of 2.59%. Kinder Morgan’s dividend payout ratio is presently 161.29%.
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A number of brokerages recently issued reports on KMI. Stifel Nicolaus restated a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $23.00 target price (down previously from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. BidaskClub lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. TD Securities set a $26.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.91.
In other news, Director William A. Smith acquired 4,903 shares of Kinder Morgan stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of 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 filing with the SEC, which can be accessed through this link. 13.99% of the stock is owned by corporate insiders.
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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