Oak Ridge Investments LLC boosted its position in Kinder Morgan, Inc. (NYSE:KMI) by 12.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,280 shares of the pipeline company’s stock after purchasing an additional 3,499 shares during the period. Oak Ridge Investments LLC’s holdings in Kinder Morgan were worth $618,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dai Ichi Life Insurance Company Ltd lifted its position in Kinder Morgan by 4.3% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 231,830 shares of the pipeline company’s stock worth $4,442,000 after purchasing an additional 9,541 shares during the period. Camden Asset Management L P CA lifted its position in Kinder Morgan by 7.4% in the second quarter. Camden Asset Management L P CA now owns 1,239,300 shares of the pipeline company’s stock worth $23,745,000 after purchasing an additional 85,600 shares during the period. Financial Counselors Inc. lifted its position in Kinder Morgan by 28.8% in the second quarter. Financial Counselors Inc. now owns 27,181 shares of the pipeline company’s stock worth $521,000 after purchasing an additional 6,083 shares during the period. CI Global Investments Inc. lifted its position in Kinder Morgan by 191.7% in the second quarter. CI Global Investments Inc. now owns 2,051,517 shares of the pipeline company’s stock worth $39,307,000 after purchasing an additional 1,348,314 shares during the period. Finally, Aberdeen Asset Management PLC UK lifted its position in Kinder Morgan by 8.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,336,703 shares of the pipeline company’s stock worth $25,611,000 after purchasing an additional 108,996 shares during the period. Hedge funds and other institutional investors own 59.15% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.40 on Tuesday. 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 $43.32 billion, a P/E ratio of 64.03 and a beta of 0.65. The firm’s 50-day moving average is $19.48 and its 200 day moving average is $20.03.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. Equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
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 annualized dividend and a yield of 2.57%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan announced that its board has authorized a stock buyback program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, Director William A. Smith bought 4,903 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 13.99% of the company’s stock.
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KMI has been the subject of a number of research analyst reports. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley restated an “overweight” rating and issued a $25.00 target price on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $23.91.
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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