Bedell Frazier Investment Counseling LLC increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 11.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 221,200 shares of the pipeline company’s stock after buying an additional 22,640 shares during the period. Kinder Morgan accounts for about 1.8% of Bedell Frazier Investment Counseling LLC’s portfolio, making the stock its 27th largest position. Bedell Frazier Investment Counseling LLC’s holdings in Kinder Morgan were worth $4,809,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. First Bank & Trust increased its position in shares of Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock worth $103,000 after buying an additional 408 shares during the period. Trust Co. of Vermont increased its position in Kinder Morgan by 71.5% in the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock valued at $142,000 after buying an additional 2,719 shares during the last quarter. Guardian Life Insurance Co. of America increased 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 buying an additional 60 shares during the last quarter. Salem Investment Counselors Inc. increased 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 buying an additional 1,359 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Kinder Morgan by 8.2% in the first quarter. Quadrant Capital Group LLC now owns 9,833 shares of the pipeline company’s stock valued at $199,000 after buying an additional 742 shares during the last quarter. 57.70% of the stock is owned by institutional investors.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.07 on Friday. The stock has a market capitalization of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. The stock’s 50 day moving average price is $19.68 and its 200-day moving average price is $20.53. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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Several equities analysts have weighed in on the company. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Wells Fargo & Company reissued an “outperform” rating and set a $25.00 price target (down previously from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. Finally, Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.91.
In related news, VP Dax Sanders bought 2,600 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $18.60 per share, with a total value of $48,360.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William A. Smith bought 4,903 shares of Kinder Morgan stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of $20.24 per share, with a total value of $99,236.72. Following the acquisition, the director now directly owns 14,587 shares in the company, valued at approximately $295,240.88. The disclosure for this purchase can be found here. In the last three months, insiders bought 507,503 shares of company stock valued at $9,437,597. Insiders own 13.99% of the company’s stock.
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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