Lucas Capital Management Buys Shares of 16,240 Kinder Morgan, Inc. (NYSE:KMI)

Lucas Capital Management bought a new position in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, Holdings Channel reports. The fund bought 16,240 shares of the pipeline company’s stock, valued at approximately $311,000.

A number of other institutional investors also recently modified their holdings of KMI. Candriam Luxembourg S.C.A. boosted its position in shares of Kinder Morgan by 15.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 632,294 shares of the pipeline company’s stock worth $13,747,000 after buying an additional 82,325 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Kinder Morgan during the first quarter worth about $517,000. State of Alaska Department of Revenue bought a new position in shares of Kinder Morgan during the first quarter worth about $244,000. Boys Arnold & Co. Inc. boosted its position in shares of Kinder Morgan by 1.1% in the first quarter. Boys Arnold & Co. Inc. now owns 25,124 shares of the pipeline company’s stock worth $546,000 after buying an additional 284 shares during the period. Finally, Bollard Group LLC boosted its position in shares of Kinder Morgan by 13.9% in the first quarter. Bollard Group LLC now owns 319,892 shares of the pipeline company’s stock worth $6,954,000 after buying an additional 39,142 shares during the period. Hedge funds and other institutional investors own 57.40% of the company’s stock.

Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.07 on Monday. The firm has a market cap of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36. The company has a 50-day moving average price of $19.68 and a 200-day moving average price of $20.53. Kinder Morgan also saw some unusual options trading activity on Friday. Investors acquired 465 call options on the stock. This represents an increase of 122% compared to the typical volume of 209 call options.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. Kinder Morgan’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. Analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.

Kinder Morgan announced that its board has approved a stock buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.125 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.62%. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.

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A number of equities research analysts have recently commented on KMI shares. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Macquarie started coverage on Kinder Morgan in a research report on Friday, April 21st. They set a “neutral” rating and a $21.00 price target on the stock. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price target 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.91.

In related news, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was acquired 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 of the company’s stock, valued at approximately $4,360,955,518.74. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, 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 disclosure for this purchase can be found here. Insiders have bought 507,503 shares of company stock valued at $9,437,597 over the last quarter. Insiders own 13.99% of the company’s stock.

About Kinder Morgan

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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