CWA Asset Management Group LLC reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 48.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,577 shares of the pipeline company’s stock after selling 14,424 shares during the period. CWA Asset Management Group LLC’s holdings in Kinder Morgan were worth $298,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. APG Asset Management N.V. grew its stake in shares of Kinder Morgan by 1.3% during the first quarter. APG Asset Management N.V. now owns 7,703,693 shares of the pipeline company’s stock valued at $167,478,000 after acquiring an additional 98,966 shares in the last quarter. ING Groep NV grew its stake in shares of Kinder Morgan by 2.7% during the first quarter. ING Groep NV now owns 1,287,926 shares of the pipeline company’s stock valued at $28,000,000 after acquiring an additional 33,590 shares in the last quarter. Welch Group LLC grew its stake in shares of Kinder Morgan by 23.5% during the first quarter. Welch Group LLC now owns 15,752 shares of the pipeline company’s stock valued at $342,000 after acquiring an additional 2,996 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Kinder Morgan by 1.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,318,687 shares of the pipeline company’s stock valued at $115,628,000 after acquiring an additional 82,935 shares in the last quarter. Finally, SignalPoint Asset Management LLC grew its stake in shares of Kinder Morgan by 2.4% during the first quarter. SignalPoint Asset Management LLC now owns 42,829 shares of the pipeline company’s stock valued at $931,000 after acquiring an additional 995 shares in the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) traded down 0.134% during trading on Wednesday, reaching $19.334. The company had a trading volume of 816,813 shares. The stock has a market cap of $43.18 billion, a P/E ratio of 63.809 and a beta of 0.65. The firm has a 50-day moving average price of $19.48 and a 200 day moving average price of $20.03. Kinder Morgan, Inc. has a 12-month low of $18.23 and a 12-month high of $23.36.
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Kinder Morgan (NYSE:KMI) last posted 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). 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 the consensus estimate of $3.12 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its board has initiated a stock repurchase program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.58%. Kinder Morgan’s payout ratio is 161.29%.
Several brokerages have recently weighed in on KMI. Morgan Stanley restated an “overweight” rating on shares of Kinder Morgan in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Stifel Nicolaus set a $25.00 target price on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, August 17th. BidaskClub downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, BMO Capital Markets restated a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.91.
In related news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the acquisition, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.99% of the company’s stock.
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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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