Parsons Capital Management Inc. RI increased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,527 shares of the pipeline company’s stock after buying an additional 382 shares during the period. Parsons Capital Management Inc. RI’s holdings in Kinder Morgan were worth $490,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $305,000. Quadrature Capital Ltd purchased a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $3,685,000. Ibex Wealth Advisors boosted its stake in shares of Kinder Morgan by 10.1% in the fourth quarter. Ibex Wealth Advisors now owns 21,168 shares of the pipeline company’s stock worth $476,000 after buying an additional 1,937 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in Kinder Morgan by 10.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,332,985 shares of the pipeline company’s stock worth $27,606,000 after buying an additional 122,195 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in Kinder Morgan by 34.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,146 shares of the pipeline company’s stock worth $1,331,000 after buying an additional 15,747 shares in the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.07 on Friday. The company has a market cap of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The stock has a 50 day moving average of $19.68 and a 200 day moving average of $20.53.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $3.37 billion for 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 firm’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.
Kinder Morgan declared that its board has authorized a stock repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $25.00 price objective on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. reissued a “strong-buy” rating and issued a $23.00 target price (down from $27.00) on shares of Kinder Morgan in a report on Tuesday, June 20th. TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Mizuho started coverage on shares of Kinder Morgan in a report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.91.
In other news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the transaction, the insider now directly owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the transaction, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 507,503 shares of company stock worth $9,437,597. 13.99% of the stock is owned by corporate 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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