Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,043 shares of the pipeline company’s stock after selling 17,567 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Kinder Morgan were worth $5,519,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. First National Bank of Omaha acquired a new stake in shares of Kinder Morgan during the first quarter valued at $274,000. DnB Asset Management AS increased its stake in shares of 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 during the last quarter. Greylin Investment Mangement Inc. increased its stake in shares of Kinder Morgan by 16.6% in the first quarter. Greylin Investment Mangement Inc. now owns 34,300 shares of the pipeline company’s stock valued at $746,000 after buying an additional 4,875 shares during the last quarter. Bollard Group LLC increased its stake 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 valued at $6,954,000 after buying an additional 39,142 shares during the last quarter. Finally, Boys Arnold & Co. Inc. increased its stake 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 valued at $546,000 after buying an additional 284 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.
Kinder Morgan, Inc. (NYSE KMI) opened at 18.40 on Friday. The firm has a market capitalization of $41.09 billion, a PE ratio of 60.73 and a beta of 0.64. The stock has a 50 day moving average price of $19.67 and a 200-day moving average price of $20.42. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, July 27th. Kinder Morgan’s dividend payout ratio is presently 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Several brokerages recently weighed in on KMI. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. Macquarie began coverage on Kinder Morgan in a research note on Friday, April 21st. They set a “neutral” rating and a $21.00 target price for the company. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. BMO Capital Markets restated a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $23.91.
In related news, Director William A. Smith purchased 4,903 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dax Sanders purchased 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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. In the last 90 days, insiders have bought 507,503 shares of company stock valued at $9,437,597. 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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