Traders Purchase Large Volume of Kinder Morgan Call Options (KMI)
Kinder Morgan, Inc. (NYSE:KMI) was the recipient of some unusual options trading on Friday. Stock traders purchased 465 call options on the stock. This represents an increase of approximately 122% compared to the typical daily volume of 209 call options.
Shares of Kinder Morgan (NYSE KMI) opened at 19.02 on Monday. Kinder Morgan has a 12 month low of $18.23 and a 12 month high of $23.01. The company’s 50-day moving average price is $19.20 and its 200-day moving average price is $19.76. The firm has a market cap of $42.48 billion, a P/E ratio of 62.77 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 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Kinder Morgan will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has authorized a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several research firms have recently commented on KMI. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinder Morgan in a research report on Tuesday, September 5th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Stifel Nicolaus set a $25.00 target price on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. BidaskClub downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 target price on shares of Kinder Morgan in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $23.84.
In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction on Monday, July 31st. The shares were purchased 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 13.99% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in KMI. Vanguard Group Inc. boosted its position 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 period. Commonwealth Bank of Australia boosted its position 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 purchasing an additional 6,205,165 shares during the period. Renaissance Technologies LLC boosted its position 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 purchasing an additional 4,694,441 shares during the period. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 3,483,039 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position 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 purchasing an additional 3,340,309 shares during the period. Institutional investors and hedge funds own 59.13% of the company’s stock.
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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