Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 50.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 73,483 shares of the pipeline company’s stock after buying an additional 24,548 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Kinder Morgan were worth $1,408,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. First Bank & Trust boosted its position in shares of 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 during the period. Trust Co. of Vermont boosted its position in shares of 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 during the period. CWM LLC boosted its position in shares of Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock worth $154,000 after buying an additional 7,127 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of 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 during the period. Finally, Salem Investment Counselors Inc. boosted its position in shares of 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 during the period. 57.53% of the stock is currently owned by institutional investors and hedge funds.
Kinder Morgan, Inc. (NYSE:KMI) opened at 20.57 on Friday. Kinder Morgan, Inc. has a 52-week low of $18.31 and a 52-week high of $23.36. The stock’s 50 day moving average is $19.11 and its 200 day moving average is $20.73. The company has a market cap of $45.92 billion, a price-to-earnings ratio of 68.11 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 return on equity of 4.45% and a net margin of 6.20%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $0.15 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Kinder Morgan, Inc. will post $0.66 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.43%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
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A number of research analysts have weighed in on KMI shares. Credit Suisse Group set a $27.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, April 20th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Wells Fargo & Company reissued an “outperform” rating and set a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating and set a $25.00 target price on shares of Kinder Morgan in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $24.03.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was bought at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the purchase, the insider now owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dax Sanders bought 2,600 shares of the stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Corporate 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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