Bedrijfstakpensioenfonds Voor DE Media PNO boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 313.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,128 shares of the pipeline company’s stock after buying an additional 78,928 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Kinder Morgan were worth $1,995,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 during the last quarter. Dimensional Fund Advisors LP increased its stake 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 during the last quarter. TIAA CREF Investment Management LLC increased its stake 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 during the last quarter. Pictet Asset Management Ltd. increased its stake 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 during the last quarter. Finally, Eagle Global Advisors LLC increased its stake in Kinder Morgan by 164.4% in the first quarter. Eagle Global Advisors LLC now owns 4,192,327 shares of the pipeline company’s stock worth $91,141,000 after buying an additional 2,606,772 shares during the last quarter. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE 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. The firm’s 50-day moving average is $19.68 and its 200-day moving average is $20.53. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36.
Kinder Morgan (NYSE:KMI) last posted 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. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. Kinder Morgan’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. Analysts expect 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 buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The firm 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. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.62%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
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Several research analysts have recently weighed in on the stock. BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr downgraded shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective on the stock. in a research report on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. One 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.91.
In related news, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was acquired at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the purchase, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dax Sanders acquired 2,600 shares of the stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 507,503 shares of company stock worth $9,437,597. Corporate 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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