Segment Wealth Management LLC decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,460 shares of the pipeline company’s stock after selling 696 shares during the quarter. Segment Wealth Management LLC’s holdings in Kinder Morgan were worth $986,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after buying an additional 6,222,962 shares in the last quarter. Commonwealth Bank of Australia increased its position in Kinder Morgan by 45.9% in the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after buying an additional 6,205,165 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after buying an additional 3,483,039 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Kinder Morgan by 49.5% in the first quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock worth $219,271,000 after buying an additional 3,340,309 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in Kinder Morgan by 315.2% in the first quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock worth $93,388,000 after buying an additional 3,261,140 shares in the last quarter. 59.12% of the stock is currently owned by institutional investors.
KMI has been the subject of a number of 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 cut Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their price target 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 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Mizuho initiated coverage on Kinder Morgan in a research report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Kinder Morgan has a consensus rating of “Buy” and a consensus target price of $23.91.
Kinder Morgan, Inc. (NYSE:KMI) traded up 0.8185% during mid-day trading on Wednesday, hitting $19.7201. The company had a trading volume of 2,999,626 shares. The firm has a market capitalization of $44.04 billion, a P/E ratio of 65.0828 and a beta of 0.65. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36. The company has a 50-day moving average price of $19.31 and a 200 day moving average price of $19.94.
Kinder Morgan (NYSE:KMI) last announced its quarterly 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). 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 analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. Kinder Morgan’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan announced that its board has approved a stock buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.99% of the stock is owned by insiders.
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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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