Carroll Financial Associates Inc. cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,532 shares of the pipeline company’s stock after selling 1,112 shares during the period. Carroll Financial Associates Inc.’s holdings in Kinder Morgan were worth $201,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in KMI. Vanguard Group Inc. raised its stake in Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after buying an additional 6,222,962 shares during the last quarter. Wellington Management Group LLP raised its stake in Kinder Morgan by 8.2% in the first quarter. Wellington Management Group LLP now owns 29,672,731 shares of the pipeline company’s stock worth $645,086,000 after buying an additional 2,258,597 shares during the last quarter. Geode Capital Management LLC raised its stake in Kinder Morgan by 7.7% in the first quarter. Geode Capital Management LLC now owns 18,346,909 shares of the pipeline company’s stock worth $398,283,000 after buying an additional 1,309,520 shares during the last quarter. Atlantic Trust Group LLC raised its stake in Kinder Morgan by 6.3% in the first quarter. Atlantic Trust Group LLC now owns 11,337,726 shares of the pipeline company’s stock worth $246,482,000 after buying an additional 672,731 shares during the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock worth $226,019,000 after buying an additional 976,320 shares during the last quarter. Institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (KMI) traded down 0.20% during trading on Monday, reaching $20.16. 3,211,324 shares of the company’s stock traded hands. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36. The firm has a market cap of $45.02 billion, a PE ratio of 66.53 and a beta of 0.64. The firm 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 issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm earned $0.15 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.48%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan declared that its board has authorized a stock repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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KMI has been the subject of a number of research analyst reports. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Wolfe Research downgraded 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 reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Kinder Morgan in a research note on Monday, July 3rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $25.00 price target (down from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Kinder Morgan has a consensus rating of “Buy” and a consensus target price of $23.91.
In other news, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction dated 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 purchase, the insider now directly owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dax Sanders acquired 2,600 shares of the stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price 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 three months. 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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