Kinder Morgan, Inc. (KMI) Shares Sold by Optimum Investment Advisors
Optimum Investment Advisors reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,371 shares of the pipeline company’s stock after selling 2,593 shares during the quarter. Optimum Investment Advisors’ holdings in Kinder Morgan were worth $275,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. UBS Asset Management Americas Inc. raised its position in Kinder Morgan by 12.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,265,094 shares of the pipeline company’s stock valued at $114,463,000 after purchasing an additional 594,544 shares during the last quarter. CIBC World Markets Inc. boosted its stake in Kinder Morgan by 237.5% during the 1st quarter. CIBC World Markets Inc. now owns 2,604,141 shares of the pipeline company’s stock worth $56,614,000 after purchasing an additional 1,832,528 shares during the period. State of Wisconsin Investment Board boosted its stake in Kinder Morgan by 12.3% during the 1st quarter. State of Wisconsin Investment Board now owns 1,998,208 shares of the pipeline company’s stock worth $43,441,000 after purchasing an additional 219,390 shares during the period. Mutual of America Capital Management LLC boosted its stake in Kinder Morgan by 1.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 230,489 shares of the pipeline company’s stock worth $5,011,000 after purchasing an additional 2,627 shares during the period. Finally, Intellectus Partners LLC boosted its stake in Kinder Morgan by 72.9% during the 1st quarter. Intellectus Partners LLC now owns 27,850 shares of the pipeline company’s stock worth $605,000 after purchasing an additional 11,747 shares during the period. Institutional investors and hedge funds own 59.13% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) traded down 1.05% during trading on Tuesday, reaching $18.90. The company had a trading volume of 2,553,078 shares. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.01. The firm has a market capitalization of $42.21 billion, a P/E ratio of 62.38 and a beta of 0.65. The company has a 50-day moving average of $19.18 and a 200-day moving average of $19.80.
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). The company had revenue of $3.37 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. Analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director William A. Smith acquired 4,903 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.99% of the company’s stock.
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KMI has been the topic of a number of recent research reports. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a report on Monday, July 3rd. Mizuho assumed coverage on Kinder Morgan in a report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $25.00 price target on shares of Kinder Morgan in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.84.
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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