Benjamin F. Edwards & Company Inc. reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,261 shares of the pipeline company’s stock after selling 1,500 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Kinder Morgan were worth $273,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd raised its position in shares of Kinder Morgan by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 591,267 shares of the pipeline company’s stock valued at $12,854,000 after buying an additional 7,325 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Kinder Morgan by 38.2% in the first quarter. Koshinski Asset Management Inc. now owns 14,804 shares of the pipeline company’s stock valued at $322,000 after buying an additional 4,094 shares during the period. Quadrant Capital Group LLC increased its stake in Kinder Morgan by 8.2% in the first quarter. Quadrant Capital Group LLC now owns 9,833 shares of the pipeline company’s stock valued at $199,000 after buying an additional 742 shares in the last quarter. Spirit of America Management Corp NY increased its stake in shares of Kinder Morgan by 14.3% in the first quarter. Spirit of America Management Corp NY now owns 600,494 shares of the pipeline company’s stock valued at $13,055,000 after buying an additional 75,350 shares during the period. Finally, First National Bank of Omaha bought a new stake in shares of Kinder Morgan during the first quarter valued at $274,000. 57.40% of the stock is currently 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. The company has a 50 day moving average price of $19.65 and a 200 day moving average price of $20.40. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The stock has a market capitalization of $41.43 billion, a PE ratio of 61.22 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.70%. Kinder Morgan’s payout ratio is 161.29%.
Kinder Morgan announced that its board has initiated a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in 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 a sign that the company’s leadership believes its stock is undervalued.
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Several research firms have recently issued reports on KMI. Stifel Nicolaus set a $25.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday. BidaskClub cut Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday. BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of Kinder Morgan in a research report on Friday, July 28th. Mizuho initiated coverage on Kinder Morgan in a research report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.91.
In other news, Director William A. Smith acquired 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the transaction, the director now directly owns 14,587 shares in the company, valued at approximately $295,240.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Dax Sanders acquired 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 507,503 shares of company stock worth $9,437,597. 13.99% of the stock is currently owned by company insiders.
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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