Laurel Wealth Advisors Inc. Lowers Position in Kinder Morgan, Inc. (KMI)
Laurel Wealth Advisors Inc. lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,371 shares of the pipeline company’s stock after selling 1,353 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Kinder Morgan were worth $696,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC grew its holdings in shares of Kinder Morgan by 24.5% during the second quarter. IHT Wealth Management LLC now owns 19,688 shares of the pipeline company’s stock worth $356,000 after buying an additional 3,874 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Kinder Morgan by 2,482.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 581,100 shares of the pipeline company’s stock worth $11,134,000 after buying an additional 558,600 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Kinder Morgan by 0.6% during the second quarter. Moors & Cabot Inc. now owns 142,874 shares of the pipeline company’s stock worth $2,744,000 after buying an additional 896 shares during the last quarter. CNH Partners LLC grew its holdings in shares of Kinder Morgan by 0.4% during the second quarter. CNH Partners LLC now owns 27,467 shares of the pipeline company’s stock worth $526,000 after buying an additional 100 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Kinder Morgan by 30.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,659 shares of the pipeline company’s stock valued at $453,000 after purchasing an additional 5,470 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Kinder Morgan, Inc. (KMI) traded up 0.32% during mid-day trading on Tuesday, hitting $19.09. 1,865,333 shares of the stock traded hands. Kinder Morgan, Inc. has a 52 week low of $18.23 and a 52 week high of $23.01. The company has a market cap of $42.63 billion, a price-to-earnings ratio of 63.00 and a beta of 0.65. The stock has a 50-day moving average of $19.21 and a 200-day moving average of $19.72.
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 analysts’ consensus estimates of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has authorized a share repurchase 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 reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
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 bought at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the transaction, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.99% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Kinder Morgan in a report on Friday, July 28th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Mizuho assumed coverage on Kinder Morgan in a report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Kinder Morgan in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.84.
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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