Oxbow Advisors LLC cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 15.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 266,195 shares of the pipeline company’s stock after selling 48,152 shares during the period. Oxbow Advisors LLC’s holdings in Kinder Morgan were worth $5,100,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in KMI. First Bank & Trust raised 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 raised its position in shares of Kinder Morgan by 71.5% in the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock worth $142,000 after buying an additional 2,719 shares during the period. Guardian Life Insurance Co. of America raised 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. Salem Investment Counselors Inc. raised 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. Finally, CWM LLC raised 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. 57.65% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down 0.15% during mid-day trading on Friday, hitting $20.20. 6,071,995 shares of the company’s stock traded hands. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36. The stock has a market cap of $45.11 billion, a P/E ratio of 66.67 and a beta of 0.64. The stock has a 50 day moving average price of $19.45 and a 200-day moving average price of $20.64.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $3.37 billion during 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.48%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of research analysts have recently issued reports on KMI shares. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Wolfe Research lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $26.00 to $21.00 in a research note on Tuesday, May 30th. Morgan Stanley reiterated an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research note on Monday, July 3rd. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $25.00 price target (down from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. One 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 company. The company has a consensus rating of “Buy” and an average price target of $23.91.
In other Kinder Morgan news, VP Dax Sanders acquired 2,600 shares of the stock in a transaction dated Tuesday, May 30th. The shares were bought at an average price of $18.60 per share, with a total value of $48,360.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The disclosure for this purchase can be found here. Insiders bought a total of 507,503 shares of company stock worth $9,437,597 in the last ninety days. 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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