Ronna Sue Cohen decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,035 shares of the pipeline company’s stock after selling 408 shares during the period. Ronna Sue Cohen’s holdings in Kinder Morgan were worth $825,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of KMI. First Bank & Trust increased its position in 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 in the last quarter. Trust Co. of Vermont increased 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 worth $138,000 after buying an additional 675 shares in 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 worth $161,000 after buying an additional 60 shares in 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 worth $171,000 after buying an additional 1,359 shares in 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 worth $199,000 after buying an additional 742 shares in the last quarter. Institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) opened at 19.07 on Friday. The firm’s 50 day moving average is $19.68 and its 200-day moving average is $20.53. The firm has a market cap of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month 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. 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 the consensus estimate of $3.12 billion. During the same period last year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The firm also recently declared 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 annualized dividend 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 currently 161.29%.
Kinder Morgan announced that its board has authorized a share buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research firms have recently commented on KMI. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, May 31st. Jefferies Group LLC restated a “hold” rating and set a $23.00 price objective on shares of Kinder Morgan in a research note on Friday, June 23rd. TD Securities set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Sanford C. Bernstein initiated coverage on shares of Kinder Morgan in a report on Tuesday, May 16th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $23.91.
In other news, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $18.60 per share, with a total value of $48,360.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $20.24 per share, for a total transaction 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 worth $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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