Andra AP fonden Reduces Position in Kinder Morgan, Inc. (KMI)
Andra AP fonden lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 165,300 shares of the pipeline company’s stock after selling 5,400 shares during the period. Andra AP fonden’s holdings in Kinder Morgan were worth $3,167,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC boosted its stake in Kinder Morgan by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock worth $403,000 after buying an additional 50 shares during the last quarter. Guardian Life Insurance Co. of America boosted 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 during the last quarter. San Francisco Sentry Investment Group CA boosted its stake in 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 worth $265,000 after buying an additional 101 shares during the last quarter. Chatham Capital Group Inc. boosted its stake in Kinder Morgan by 0.5% in the first quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock worth $869,000 after buying an additional 200 shares during the last quarter. Finally, Merriman Wealth Management LLC boosted its stake in Kinder Morgan by 0.4% in the second quarter. Merriman Wealth Management LLC now owns 59,481 shares of the pipeline company’s stock worth $1,140,000 after buying an additional 239 shares during the last quarter. 59.14% of the stock is owned by hedge funds and other institutional investors.
Kinder Morgan, Inc. (NYSE KMI) opened at 19.33 on Friday. The company has a market capitalization of $43.17 billion, a price-to-earnings ratio of 63.80 and a beta of 0.64. Kinder Morgan, Inc. has a 1-year low of $18.23 and a 1-year high of $23.36. The stock has a 50 day moving average price of $19.58 and a 200-day moving average price of $20.17.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts predict that Kinder Morgan, Inc. will post $0.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a $0.125 dividend. The ex-dividend date was Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.59%. Kinder Morgan’s dividend payout ratio (DPR) is currently 161.29%.
Kinder Morgan declared that its board has authorized a stock buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Several equities analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $25.00 target price on shares of Kinder Morgan in a report on Friday, July 14th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $23.00 target price (down from $27.00) on shares of Kinder Morgan in a report on Tuesday, June 20th. BidaskClub lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. TD Securities set a $26.00 target price on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Mizuho assumed coverage on Kinder Morgan in a report on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.91.
In other news, Director William A. Smith bought 4,903 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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