Godsey & Gibb Associates Cuts Position in Kinder Morgan, Inc. (KMI)
Godsey & Gibb Associates cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 19.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,019 shares of the pipeline company’s stock after selling 8,904 shares during the period. Godsey & Gibb Associates’ holdings in Kinder Morgan were worth $709,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in KMI. DekaBank Deutsche Girozentrale grew its position in Kinder Morgan by 3.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 754,826 shares of the pipeline company’s stock worth $16,299,000 after acquiring an additional 27,588 shares in the last quarter. Moody Lynn & Lieberson LLC grew its position 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 acquiring an additional 50 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Kinder Morgan by 22.0% in the first quarter. Daiwa Securities Group Inc. now owns 644,263 shares of the pipeline company’s stock worth $14,006,000 after acquiring an additional 116,006 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Kinder Morgan by 26.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 89,785 shares of the pipeline company’s stock worth $1,952,000 after acquiring an additional 18,666 shares in the last quarter. Finally, Capital Fund Management S.A. grew its position in Kinder Morgan by 43.7% in the first quarter. Capital Fund Management S.A. now owns 630,982 shares of the pipeline company’s stock worth $13,718,000 after acquiring an additional 191,782 shares in the last quarter. Institutional investors own 59.12% of the company’s stock.
KMI has been the subject of several analyst reports. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Morgan Stanley restated an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. BMO Capital Markets set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Royal Bank Of Canada cut their price target on shares of Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Kinder Morgan currently has an average rating of “Buy” and a consensus price target of $23.91.
In other news, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.99% of the stock is currently owned by insiders.
Kinder Morgan, Inc. (NYSE:KMI) traded down 0.077% during mid-day trading on Monday, hitting $19.345. 2,974,317 shares of the stock were exchanged. Kinder Morgan, Inc. has a 52 week low of $18.23 and a 52 week high of $23.36. The company’s 50-day moving average price is $19.37 and its 200 day moving average price is $19.99. The firm has a market capitalization of $43.20 billion, a price-to-earnings ratio of 63.845 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results 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 return on equity of 4.41% and a net margin of 6.20%. The firm 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 firm posted $0.15 earnings per share. Kinder Morgan’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has approved a share 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 purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Kinder Morgan 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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