Victory Capital Management Inc. lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,088 shares of the pipeline company’s stock after selling 1,835 shares during the period. Victory Capital Management Inc.’s holdings in Kinder Morgan were worth $634,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in KMI. Trust Co. of Vermont grew its position in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after acquiring an additional 675 shares during the last quarter. CWM LLC grew its position in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 7,127 shares during the last quarter. Security National Trust Co. grew its position in Kinder Morgan by 8.4% in the second quarter. Security National Trust Co. now owns 8,129 shares of the pipeline company’s stock valued at $155,000 after acquiring an additional 630 shares during the last quarter. Guardian Life Insurance Co. of America grew its position in Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 60 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock valued at $171,000 after acquiring an additional 1,359 shares during the last quarter. Hedge funds and other institutional investors own 59.12% of the company’s stock.
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In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction on Monday, July 31st. The stock was acquired 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.99% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) opened at 19.36 on Monday. Kinder Morgan, Inc. has a 52 week low of $18.23 and a 52 week high of $23.36. The firm has a 50-day moving average price of $19.37 and a 200 day moving average price of $19.99. The firm has a market capitalization of $43.24 billion, a price-to-earnings ratio of 63.89 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share 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 business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business posted $0.15 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan declared that its board has approved a share buyback plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in 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 often an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research note on Monday, July 3rd. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada cut their price target on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.91.
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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