Blackhill Capital Inc. cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 585,696 shares of the pipeline company’s stock after selling 100,000 shares during the period. Kinder Morgan makes up about 2.1% of Blackhill Capital Inc.’s holdings, making the stock its 13th largest position. Blackhill Capital Inc.’s holdings in Kinder Morgan were worth $11,222,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in KMI. Gulf International Bank UK Ltd boosted its position in 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 valued at $12,151,000 after buying an additional 42,956 shares in the last quarter. Bollard Group LLC boosted its position in Kinder Morgan by 1.0% in the second quarter. Bollard Group LLC now owns 322,973 shares of the pipeline company’s stock valued at $6,188,000 after buying an additional 3,081 shares in the last quarter. Karpas Strategies LLC boosted its position in Kinder Morgan by 4.0% in the second quarter. Karpas Strategies LLC now owns 104,715 shares of the pipeline company’s stock valued at $2,006,000 after buying an additional 4,000 shares in the last quarter. Prospera Financial Services Inc boosted its position in Kinder Morgan by 28.0% in the second quarter. Prospera Financial Services Inc now owns 25,310 shares of the pipeline company’s stock valued at $484,000 after buying an additional 5,544 shares in the last quarter. Finally, Founders Capital Management boosted its position in Kinder Morgan by 2.1% in the second quarter. Founders Capital Management now owns 109,333 shares of the pipeline company’s stock valued at $2,095,000 after buying an additional 2,229 shares in the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down 0.69% during trading on Tuesday, hitting $20.01. 1,177,839 shares of the stock were exchanged. The stock has a market cap of $44.69 billion, a price-to-earnings ratio of 66.04 and a beta of 0.64. The stock’s 50 day moving average is $19.45 and its 200-day moving average is $20.64. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan announced that its Board of Directors has approved a stock buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding 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 usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is presently 161.29%.
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KMI has been the subject of a number of research analyst reports. Credit Suisse Group set a $27.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, April 20th. Macquarie initiated coverage on shares of Kinder Morgan in a report on Friday, April 21st. They issued a “neutral” rating and a $21.00 target price for the company. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price target on shares of Kinder Morgan in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $23.91.
In other news, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The shares were bought at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the acquisition, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dax Sanders purchased 2,600 shares of Kinder Morgan stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 507,503 shares of company stock worth $9,437,597. Company insiders own 13.99% of the company’s stock.
About Kinder Morgan
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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