Seaward Management Limited Partnership raised its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,640 shares of the pipeline company’s stock after buying an additional 955 shares during the period. Seaward Management Limited Partnership’s holdings in Kinder Morgan were worth $622,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Kinder Morgan during the fourth quarter worth $305,000. Quadrature Capital Ltd bought a new position in Kinder Morgan during the fourth quarter worth approximately $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 period. 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 period. 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 period. Institutional investors and hedge funds own 57.40% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded up 0.82% during trading on Friday, hitting $18.55. The company had a trading volume of 11,593,869 shares. Kinder Morgan, Inc. has a 1-year low of $18.23 and a 1-year high of $23.36. The company’s 50 day moving average is $19.65 and its 200 day moving average is $20.40. The firm has a market capitalization of $41.43 billion, a P/E ratio of 61.22 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company’s revenue for the quarter 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 anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.70%. Kinder Morgan’s payout ratio is currently 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms have commented on KMI. BidaskClub cut shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Stifel Nicolaus set a $25.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein initiated coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They issued a “market perform” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a research note on Thursday, July 20th. Finally, Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Kinder Morgan has a consensus rating of “Buy” and an average target price of $23.91.
In other news, insider Richard D. Kinder acquired 500,000 shares of Kinder Morgan stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders bought 2,600 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were 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 have acquired a total of 507,503 shares of company stock worth $9,437,597 over the last 90 days. 13.99% of the stock is currently owned by company insiders.
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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