United Services Automobile Association raised its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 603,982 shares of the pipeline company’s stock after buying an additional 1,323 shares during the period. United Services Automobile Association’s holdings in Kinder Morgan were worth $13,131,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in shares of Kinder Morgan by 23.9% in the first quarter. Chicago Partners Investment Group LLC now owns 519,736 shares of the pipeline company’s stock worth $11,299,000 after buying an additional 100,308 shares during the period. Boston Private Wealth LLC raised its position in shares of Kinder Morgan by 931.5% in the first quarter. Boston Private Wealth LLC now owns 113,774 shares of the pipeline company’s stock worth $2,473,000 after buying an additional 102,744 shares during the period. Burney Co. acquired a new position in shares of Kinder Morgan during the first quarter worth about $216,000. First Interstate Bank raised its position in shares of Kinder Morgan by 10.9% in the first quarter. First Interstate Bank now owns 30,836 shares of the pipeline company’s stock worth $670,000 after buying an additional 3,023 shares during the period. Finally, AXA raised its position in shares of Kinder Morgan by 13.8% in the first quarter. AXA now owns 362,928 shares of the pipeline company’s stock worth $7,890,000 after buying an additional 43,910 shares during the period. 57.56% of the stock is owned by institutional investors and hedge funds.
Kinder Morgan, Inc. (NYSE:KMI) traded up 1.26% during trading on Thursday, hitting $20.47. 13,094,147 shares of the stock were exchanged. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The stock has a 50 day moving average price of $19.28 and a 200-day moving average price of $20.69. The firm has a market capitalization of $45.65 billion, a PE ratio of 67.34 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business posted $0.15 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post $0.65 earnings per share for the current fiscal year.
Kinder Morgan declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.
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A number of equities analysts recently issued reports on the company. Mizuho began coverage on Kinder Morgan in a report on Thursday. They issued a “neutral” rating and a $22.00 price objective for the company. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and issued a $20.00 target price on shares of Kinder Morgan in a research report on Thursday, July 20th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a research report on Friday, July 14th. 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 issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.91.
In other Kinder Morgan news, VP Dax Sanders acquired 2,600 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average cost of $18.60 per share, with a total value of $48,360.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. 13.99% of the stock is currently 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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