KMI has been the subject of a number of other reports. Zacks Investment Research cut Kinder Morgan from a hold rating to a sell rating in a research note on Tuesday, July 11th. Jefferies Group LLC reaffirmed 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 Kinder Morgan and gave the stock a buy rating in a research note on Tuesday, June 20th. Sanford C. Bernstein assumed coverage on Kinder Morgan in a research note on Tuesday, May 16th. They set a market perform rating for the company. Finally, Vetr cut Kinder Morgan from a strong-buy rating to a buy rating and set a $23.88 price objective for the company. in a research note on Tuesday, March 28th. 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 issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $23.91.
Shares of Kinder Morgan (NYSE KMI) traded down 1.65% on Friday, reaching $19.07. The company had a trading volume of 8,612,628 shares. The company has a 50-day moving average price of $19.68 and a 200-day moving average price of $20.53. The firm has a market cap of $42.59 billion, a P/E ratio of 62.94 and a beta of 0.64. Kinder Morgan has a one year low of $18.31 and a one year high of $23.36.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, analysts expect that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a $0.125 dividend. The ex-dividend date 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 (DPR) is 161.29%.
Kinder Morgan announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director William A. Smith bought 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the acquisition, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dax Sanders bought 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 507,503 shares of company stock worth $9,437,597. Corporate insiders own 13.99% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KMI. Confluence Investment Management LLC raised its stake in Kinder Morgan by 13.8% in the first quarter. Confluence Investment Management LLC now owns 3,257,214 shares of the pipeline company’s stock valued at $70,812,000 after buying an additional 394,935 shares during the last quarter. Pure Financial Advisors Inc. bought a new stake in Kinder Morgan during the first quarter valued at about $212,000. Chevy Chase Trust Holdings Inc. raised its stake in Kinder Morgan by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,664 shares of the pipeline company’s stock valued at $36,168,000 after buying an additional 35,839 shares during the last quarter. Park National Corp OH raised its stake in Kinder Morgan by 4.0% in the first quarter. Park National Corp OH now owns 13,939 shares of the pipeline company’s stock valued at $303,000 after buying an additional 542 shares during the last quarter. Finally, Searle & CO. bought a new stake in Kinder Morgan during the fourth quarter valued at about $257,000. Institutional investors and hedge funds own 57.70% 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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