Ropes Wealth Advisors LLC Purchases 964 Shares of Kinder Morgan, Inc. (KMI)
Ropes Wealth Advisors LLC increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,696 shares of the pipeline company’s stock after buying an additional 964 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Kinder Morgan were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Kinder Morgan by 47.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock valued at $6,832,000 after buying an additional 114,124 shares during the period. Ballentine Partners LLC acquired a new position in shares of Kinder Morgan in the second quarter valued at approximately $1,078,000. Principal Financial Group Inc. increased its stake in shares of Kinder Morgan by 31.1% in the second quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock valued at $97,179,000 after buying an additional 1,201,722 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock valued at $226,019,000 after buying an additional 976,320 shares during the period. Finally, Bradley Foster & Sargent Inc. CT increased its stake in shares of Kinder Morgan by 553.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 146,283 shares of the pipeline company’s stock valued at $2,803,000 after buying an additional 123,909 shares during the period. 59.12% of the stock is owned by institutional investors.
In other Kinder Morgan news, Director William A. Smith bought 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost 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 $295,240.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.99% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on KMI shares. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. TD Securities set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Stifel Nicolaus reissued a “buy” rating and set a $25.00 target price on shares of Kinder Morgan in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $23.00 target price on shares of Kinder Morgan in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.84.
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Kinder Morgan, Inc. (NYSE:KMI) traded down 0.26% during trading on Friday, hitting $19.27. The company’s stock had a trading volume of 7,744,187 shares. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36. The firm has a 50 day moving average of $19.31 and a 200 day moving average of $19.94. The firm has a market cap of $43.03 billion, a P/E ratio of 63.60 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last posted 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 business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted $0.15 earnings per share. Kinder Morgan’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan declared that its board has initiated a stock buyback plan on Wednesday, July 19th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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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