Macquarie Group Ltd. Purchases 1,004,345 Shares of Kinder Morgan, Inc. (KMI)
Macquarie Group Ltd. raised its position in Kinder Morgan, Inc. (NYSE:KMI) by 17.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,604,204 shares of the pipeline company’s stock after buying an additional 1,004,345 shares during the period. Macquarie Group Ltd. owned about 0.30% of Kinder Morgan worth $126,537,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KMI. Vanguard Group Inc. boosted its stake in shares of Kinder Morgan by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock valued at $3,019,777,000 after purchasing an additional 6,222,962 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of Kinder Morgan by 45.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock valued at $378,101,000 after acquiring an additional 6,205,165 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Kinder Morgan by 133.5% in the 2nd quarter. Renaissance Technologies LLC now owns 8,210,372 shares of the pipeline company’s stock valued at $157,311,000 after acquiring an additional 4,694,441 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kinder Morgan by 56.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock valued at $210,507,000 after acquiring an additional 3,483,039 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Kinder Morgan by 49.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock valued at $219,271,000 after acquiring an additional 3,340,309 shares during the last quarter. Hedge funds and other institutional investors own 59.13% of the company’s stock.
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In related news, Director William A. Smith bought 4,903 shares of the business’s stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.99% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and set a $23.00 price target on shares of Kinder Morgan in a research report on Friday, June 23rd. TD Securities set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Royal Bank Of Canada cut their price objective on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, June 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, July 28th. One equities research 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’s stock. The stock presently has an average rating of “Buy” and an average price target of $23.84.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down 0.69% on Wednesday, hitting $18.72. The company had a trading volume of 3,894,224 shares. The firm’s 50 day moving average price is $19.17 and its 200-day moving average price is $19.78. Kinder Morgan, Inc. has a 52 week low of $18.23 and a 52 week high of $23.01. The stock has a market capitalization of $41.81 billion, a PE ratio of 61.78 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company earned $0.15 EPS. Kinder Morgan’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts forecast 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 stock buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to buy 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 stock is undervalued.
Kinder Morgan Company 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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