Wright Investors Service Inc. Purchases Shares of 12,670 Kinder Morgan, Inc. (KMI)

Wright Investors Service Inc. bought a new position in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,670 shares of the pipeline company’s stock, valued at approximately $243,000.

A number of other hedge funds also recently bought and sold shares of KMI. Mizuho Securities USA LLC increased its position in shares of Kinder Morgan by 150.0% in the second quarter. Mizuho Securities USA LLC now owns 45,000 shares of the pipeline company’s stock worth $862,000 after buying an additional 27,000 shares during the last quarter. Court Place Advisors LLC increased its position in shares of Kinder Morgan by 58.3% in the second quarter. Court Place Advisors LLC now owns 31,825 shares of the pipeline company’s stock worth $610,000 after buying an additional 11,722 shares during the last quarter. Private Capital Management Inc. increased its position in shares of Kinder Morgan by 44.1% in the second quarter. Private Capital Management Inc. now owns 17,000 shares of the pipeline company’s stock worth $326,000 after buying an additional 5,200 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Kinder Morgan by 7.3% in the second quarter. Gulf International Bank UK Ltd now owns 634,223 shares of the pipeline company’s stock worth $12,151,000 after buying an additional 42,956 shares during the last quarter. Finally, Bollard Group LLC increased its position in shares of Kinder Morgan by 1.0% in the second quarter. Bollard Group LLC now owns 322,973 shares of the pipeline company’s stock worth $6,188,000 after buying an additional 3,081 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.

Kinder Morgan, Inc. (NYSE KMI) traded up 0.82% during mid-day trading on Friday, reaching $18.55. 11,593,869 shares of the company’s stock were exchanged. Kinder Morgan, Inc. has a 1-year low of $18.23 and a 1-year 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. The firm’s 50-day moving average is $19.65 and its 200 day moving average is $20.40.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. Analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.

Kinder Morgan declared that its board has approved a share buyback plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.70%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.

TRADEMARK VIOLATION WARNING: This piece was published by BNB Daily and is the property of of BNB Daily. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.baseball-news-blog.com/2017/08/19/wright-investors-service-inc-takes-position-in-kinder-morgan-inc-kmi-updated-updated.html.

A number of equities analysts have recently issued reports on KMI shares. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. TD Securities set a $26.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr downgraded Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 target price on the stock. in a research report on Monday, April 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a research report on Friday, July 14th. 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. The company presently has a consensus rating of “Buy” and a consensus price target of $23.91.

In other Kinder Morgan news, insider Richard D. Kinder acquired 500,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the transaction, the insider now directly owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Insiders have purchased 507,503 shares of company stock valued at $9,437,597 in the last ninety days. 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.

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

Receive News & Ratings for Kinder Morgan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply