Piedmont Investment Advisors LLC decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,303 shares of the pipeline company’s stock after selling 75,175 shares during the period. Piedmont Investment Advisors LLC’s holdings in Kinder Morgan were worth $8,877,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Kinder Morgan during the fourth quarter worth $305,000. Quadrature Capital Ltd acquired a new position in shares of Kinder Morgan during the fourth quarter worth about $3,685,000. Ibex Wealth Advisors increased its position in shares of Kinder Morgan by 10.1% in the fourth quarter. Ibex Wealth Advisors now owns 21,168 shares of the pipeline company’s stock worth $476,000 after buying an additional 1,937 shares during the period. Orbis Allan Gray Ltd increased its position in shares of Kinder Morgan by 10.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,332,985 shares of the pipeline company’s stock worth $27,606,000 after buying an additional 122,195 shares during the period. Finally, HighPoint Advisor Group LLC increased its position in shares of Kinder Morgan by 34.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,146 shares of the pipeline company’s stock worth $1,331,000 after buying an additional 15,747 shares during the period. 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. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The company’s 50 day moving average price is $19.68 and its 200-day moving average price 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 (NYSE:KMI) last issued its quarterly earnings data 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Equities analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan announced that its board has initiated a stock buyback 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 reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s payout ratio is presently 161.29%.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of Kinder Morgan in a report on Friday, June 23rd. TD Securities set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Sanford C. Bernstein assumed coverage on Kinder Morgan in a report on Tuesday, May 16th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $23.91.
In other news, VP Dax Sanders purchased 2,600 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $18.60 per share, with a total value of $48,360.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the purchase, the insider now directly owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. Insiders have purchased a total of 507,503 shares of company stock worth $9,437,597 in the last ninety days. 13.99% of the stock is currently owned by company insiders.
About Kinder Morgan
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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