Fayez Sarofim & Co. decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,160,636 shares of the pipeline company’s stock after selling 72,033 shares during the quarter. Kinder Morgan comprises approximately 1.6% of Fayez Sarofim & Co.’s investment portfolio, making the stock its 19th biggest holding. Fayez Sarofim & Co. owned about 0.68% of Kinder Morgan worth $290,478,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Thrivent Financial For Lutherans grew its position in shares of Kinder Morgan by 3.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 74,220 shares of the pipeline company’s stock worth $1,422,000 after buying an additional 2,320 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Kinder Morgan during the 2nd quarter worth approximately $4,624,000. BlueMountain Capital Management LLC acquired a new stake in shares of Kinder Morgan during the 2nd quarter worth approximately $1,466,000. Amalgamated Bank grew its position in shares of Kinder Morgan by 60.3% during the 2nd quarter. Amalgamated Bank now owns 216,634 shares of the pipeline company’s stock worth $4,151,000 after buying an additional 81,456 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its position in shares of Kinder Morgan by 10.0% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,653,565 shares of the pipeline company’s stock worth $31,682,000 after buying an additional 149,981 shares during the period. Institutional investors own 59.15% of the company’s stock.
Several equities research analysts have recently commented on KMI shares. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reiterated an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Mizuho started coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target for the company. 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. Kinder Morgan presently has an average rating of “Buy” and a consensus target price of $23.91.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded up 0.10% on Friday, reaching $19.36. 9,389,560 shares of the company’s stock were exchanged. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The company’s 50 day moving average price is $19.37 and its 200-day moving average price is $19.99. The stock has a market cap of $43.24 billion, a P/E ratio of 63.89 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data 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 business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its Board of Directors has initiated a share repurchase 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director William A. Smith acquired 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the transaction, the director now directly owns 14,587 shares in the company, valued at approximately $295,240.88. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 13.99% of the company’s stock.
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Kinder Morgan 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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