Mcrae Capital Management Inc. boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,239 shares of the pipeline company’s stock after buying an additional 14,250 shares during the period. Kinder Morgan comprises approximately 1.2% of Mcrae Capital Management Inc.’s holdings, making the stock its 27th largest position. Mcrae Capital Management Inc.’s holdings in Kinder Morgan were worth $2,955,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS increased its stake in Kinder Morgan by 15.6% in the first quarter. DnB Asset Management AS now owns 225,173 shares of the pipeline company’s stock valued at $4,895,000 after buying an additional 30,443 shares in the last quarter. SFE Investment Counsel increased its stake in Kinder Morgan by 21.9% in the first quarter. SFE Investment Counsel now owns 52,087 shares of the pipeline company’s stock valued at $1,132,000 after buying an additional 9,343 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Kinder Morgan by 1.4% in the first quarter. Capital Investment Advisors LLC now owns 105,820 shares of the pipeline company’s stock valued at $2,301,000 after buying an additional 1,469 shares in the last quarter. Washington Trust Bank increased its stake in Kinder Morgan by 2.6% in the first quarter. Washington Trust Bank now owns 204,525 shares of the pipeline company’s stock valued at $4,446,000 after buying an additional 5,267 shares in the last quarter. Finally, American Research & Management Co. increased its stake in Kinder Morgan by 5.4% in the first quarter. American Research & Management Co. now owns 28,089 shares of the pipeline company’s stock valued at $611,000 after buying an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (KMI) opened at 19.39 on Friday. Kinder Morgan, Inc. has a 52-week low of $18.31 and a 52-week high of $23.36. The stock has a market cap of $43.30 billion, a PE ratio of 63.99 and a beta of 0.64. The firm has a 50-day moving average price of $19.67 and a 200 day moving average price of $20.55.
Kinder Morgan (NYSE:KMI) last issued its 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 net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.58%. Kinder Morgan’s dividend payout ratio (DPR) is currently 161.29%.
Kinder Morgan declared that its board has initiated a share buyback program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have recently commented on the company. Credit Suisse Group set a $27.00 price objective on Kinder Morgan and gave the company a “buy” rating in a report on Thursday, April 20th. Macquarie assumed coverage on Kinder Morgan in a report on Friday, April 21st. They set a “neutral” rating and a $21.00 price objective for the company. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a research report on Friday, July 28th. Finally, Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kinder Morgan currently has an average rating of “Buy” and a consensus target price of $23.91.
In other news, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were purchased 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 in the company, valued at approximately $4,360,955,518.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 507,503 shares of company stock worth $9,437,597. Company 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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