Kinder Morgan, Inc. (KMI) Shares Sold by Bridges Investment Counsel Inc.
Bridges Investment Counsel Inc. lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 47.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,438 shares of the pipeline company’s stock after selling 10,220 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in Kinder Morgan were worth $220,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Kinder Morgan by 47.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock valued at $6,832,000 after acquiring an additional 114,124 shares in the last quarter. Principal Financial Group Inc. grew its stake in Kinder Morgan by 31.1% during the 2nd quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock valued at $97,179,000 after acquiring an additional 1,201,722 shares in the last quarter. Ballentine Partners LLC purchased a new position in Kinder Morgan during the 2nd quarter valued at about $1,078,000. Brookfield Asset Management Inc. grew its stake in Kinder Morgan by 10.4% during the 1st quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock valued at $226,019,000 after acquiring an additional 976,320 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in Kinder Morgan by 4.0% during the 2nd quarter. Norinchukin Bank The now owns 232,006 shares of the pipeline company’s stock valued at $4,445,000 after acquiring an additional 8,908 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.
In related news, Director William A. Smith purchased 4,903 shares of the firm’s stock in a transaction 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 purchase, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.99% of the stock is owned by company insiders.
Kinder Morgan, Inc. (NYSE KMI) traded down 0.616% during midday trading on Wednesday, reaching $18.565. The company had a trading volume of 7,083,092 shares. The company has a market cap of $41.46 billion, a PE ratio of 61.271 and a beta of 0.65. The company’s 50-day moving average is $19.22 and its 200 day moving average is $19.66. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.01.
Kinder Morgan (NYSE:KMI) last posted 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). The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, equities research analysts forecast that Kinder Morgan, Inc. 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Several research firms have weighed in on KMI. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a research note on Friday, July 28th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $23.56.
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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