Parkwood LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,642 shares of the pipeline company’s stock after selling 11,634 shares during the period. Parkwood LLC’s holdings in Kinder Morgan were worth $1,545,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in KMI. Narwhal Capital Management increased its position in shares of Kinder Morgan by 44.7% in the first quarter. Narwhal Capital Management now owns 62,110 shares of the pipeline company’s stock valued at $1,350,000 after buying an additional 19,180 shares during the period. Karpas Strategies LLC increased its stake in Kinder Morgan by 0.5% in the first quarter. Karpas Strategies LLC now owns 100,715 shares of the pipeline company’s stock valued at $2,190,000 after buying an additional 550 shares during the last quarter. Everett Harris & Co. CA increased its stake in Kinder Morgan by 12.9% in the first quarter. Everett Harris & Co. CA now owns 127,345 shares of the pipeline company’s stock valued at $2,768,000 after buying an additional 14,502 shares during the last quarter. NBW Capital LLC increased its stake in Kinder Morgan by 3.2% in the first quarter. NBW Capital LLC now owns 424,079 shares of the pipeline company’s stock valued at $9,219,000 after buying an additional 13,284 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock valued at $226,019,000 after buying an additional 976,320 shares during the last quarter. 57.40% of the stock is owned by institutional investors.
Shares of Kinder Morgan, Inc. (KMI) traded up 0.82% on Friday, reaching $18.55. The company had a trading volume of 11,593,869 shares. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The firm has a market capitalization of $41.43 billion, a price-to-earnings ratio of 61.22 and a beta of 0.64. The company’s 50-day moving average price is $19.65 and its 200-day moving average price is $20.40.
Kinder Morgan (NYSE:KMI) last issued 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 firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $0.15 EPS. Kinder Morgan’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.70%. Kinder Morgan’s payout ratio is presently 161.29%.
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Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Friday, July 14th. Raymond James Financial, Inc. reissued a “strong-buy” rating and issued a $23.00 price target (down from $27.00) on shares of Kinder Morgan in a report on Tuesday, June 20th. BidaskClub downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday. TD Securities set a $26.00 target price on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Mizuho began coverage on Kinder Morgan in a report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Kinder Morgan has a consensus rating of “Buy” and an average target price of $23.91.
In other news, Director William A. Smith bought 4,903 shares of the stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $20.24 per share, with a total value of $99,236.72. Following the acquisition, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard D. Kinder bought 500,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the acquisition, the insider now owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 507,503 shares of company stock valued at $9,437,597. Insiders own 13.99% of the company’s stock.
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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