Marshall Wace North America L.P. bought a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 283,766 shares of the pipeline company’s stock, valued at approximately $6,243,000.
Several other hedge funds have also made changes to their positions in KMI. GSA Capital Partners LLP acquired a new stake in shares of Kinder Morgan during the fourth quarter worth $305,000. Miles Capital Inc. raised its stake in shares of Kinder Morgan by 3.0% in the fourth quarter. Miles Capital Inc. now owns 64,931 shares of the pipeline company’s stock worth $1,345,000 after buying an additional 1,900 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $365,669,000. Aristotle Capital Management LLC purchased a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $1,553,000. Finally, Elkhorn Investments LLC purchased a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $838,000. Institutional investors own 57.65% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) traded down 0.15% during trading on Friday, hitting $20.20. The stock had a trading volume of 6,071,995 shares. The firm has a market capitalization of $45.11 billion, a P/E ratio of 66.67 and a beta of 0.64. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36. The stock has a 50 day moving average of $19.45 and a 200 day moving average of $20.64.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The company 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%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. Equities research analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.48%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan announced that its board has approved a stock repurchase program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of analysts recently commented on KMI shares. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $25.00 price objective (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.91.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the purchase, the insider now directly owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average cost of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The disclosure for this purchase can be found here. Insiders have purchased 507,503 shares of company stock valued at $9,437,597 in the last ninety days. 13.99% of the stock is currently owned by insiders.
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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