Flinton Capital Management LLC Has $12.98 Million Stake in Kinder Morgan, Inc. (KMI)
Flinton Capital Management LLC increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 677,280 shares of the pipeline company’s stock after purchasing an additional 53,408 shares during the quarter. Flinton Capital Management LLC’s holdings in Kinder Morgan were worth $12,977,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Heritage Trust Co grew its position in Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after buying an additional 4,302 shares during the last quarter. Fiduciary Trust Co. acquired a new position in Kinder Morgan in the 2nd quarter valued at $115,000. Acrospire Investment Management LLC increased its stake in Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after buying an additional 1,600 shares during the period. Parallel Advisors LLC increased its stake in Kinder Morgan by 14.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after buying an additional 819 shares during the period. Finally, Trust Co. of Vermont increased its stake in Kinder Morgan by 10.3% in the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after buying an additional 675 shares during the period. 59.13% of the stock is owned by hedge funds and other institutional investors.
Kinder Morgan, Inc. (NYSE KMI) traded down 0.26% on Tuesday, hitting $19.05. The stock had a trading volume of 6,079,502 shares. Kinder Morgan, Inc. has a one year low of $18.23 and a one year high of $23.01. The company has a market cap of $42.54 billion, a PE ratio of 62.87 and a beta of 0.65. The stock has a 50-day moving average of $19.18 and a 200-day moving average of $19.80.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other Kinder Morgan news, Director William A. Smith bought 4,903 shares of Kinder Morgan stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the acquisition, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.99% of the company’s stock.
A number of equities analysts have commented on the stock. Morgan Stanley restated an “overweight” rating on shares of Kinder Morgan in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Stifel Nicolaus set a $25.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, August 17th. BidaskClub lowered shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. One investment 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 company. The stock currently has an average rating of “Buy” and an average price target of $23.84.
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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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