Adams Asset Advisors LLC increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 9.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 175,123 shares of the pipeline company’s stock after buying an additional 15,037 shares during the period. Adams Asset Advisors LLC’s holdings in Kinder Morgan were worth $3,355,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after buying an additional 3,483,039 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Kinder Morgan by 49.5% in the first quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock worth $219,271,000 after buying an additional 3,340,309 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Kinder Morgan by 315.2% in the first quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock worth $93,388,000 after buying an additional 3,261,140 shares during the period. Finally, Eagle Global Advisors LLC boosted its stake in Kinder Morgan by 164.4% in the first quarter. Eagle Global Advisors LLC now owns 4,192,327 shares of the pipeline company’s stock worth $91,141,000 after buying an additional 2,606,772 shares during the period. Institutional investors own 57.40% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) traded down 0.95% during mid-day trading on Tuesday, hitting $18.85. The stock had a trading volume of 9,785,177 shares. Kinder Morgan, Inc. has a 52 week low of $18.31 and a 52 week high of $23.36. The company’s 50 day moving average is $19.69 and its 200-day moving average is $20.47. The stock has a market capitalization of $42.10 billion, a P/E ratio of 62.21 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its earnings results 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 firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, analysts expect that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on KMI. BMO Capital Markets restated a “buy” rating and issued a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a research note on Thursday, July 20th. One research 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.91.
In related news, VP Dax Sanders purchased 2,600 shares of Kinder Morgan stock in a transaction dated Tuesday, May 30th. The stock was bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 507,503 shares of company stock valued at $9,437,597. 13.99% of the stock is owned by company insiders.
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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