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 Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of KMI. GSA Capital Partners LLP purchased a new stake in Kinder Morgan during the fourth quarter valued at $305,000. Quadrature Capital Ltd bought a new position in Kinder Morgan during the fourth quarter worth $3,685,000. Ibex Wealth Advisors boosted its position in 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 last quarter. Orbis Allan Gray Ltd boosted its position in 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 last quarter. Finally, HighPoint Advisor Group LLC boosted its position in 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 last quarter. 57.40% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) traded up 0.82% during midday trading on Friday, hitting $18.55. 11,593,869 shares of the stock were exchanged. Kinder Morgan, Inc. has a 12-month low of $18.23 and a 12-month high of $23.36. The firm has a 50 day moving average of $19.65 and a 200 day moving average of $20.40. The firm has a market cap of $41.43 billion, a P/E ratio of 61.22 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. Kinder Morgan’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.125 dividend. The ex-dividend date was Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan announced that its board has initiated a stock repurchase plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms recently weighed in on KMI. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of Kinder Morgan in a research report 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 report on Tuesday, June 20th. Finally, Sanford C. Bernstein assumed coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They set a “market perform” rating for the company. One research 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 stock. The company has an average rating of “Buy” and a consensus target price of $23.91.
In related news, insider Richard D. Kinder purchased 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the acquisition, the insider now directly owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dax Sanders purchased 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. Insiders bought 507,503 shares of company stock valued at $9,437,597 over the last 90 days. Insiders own 13.99% of the company’s stock.
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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