RiverPoint Capital Management LLC increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 33,007 shares of the pipeline company’s stock after buying an additional 720 shares during the period. RiverPoint Capital Management LLC’s holdings in Kinder Morgan were worth $718,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of KMI. Confluence Investment Management LLC raised its position in shares of Kinder Morgan by 13.8% in the first quarter. Confluence Investment Management LLC now owns 3,257,214 shares of the pipeline company’s stock worth $70,812,000 after buying an additional 394,935 shares during the last quarter. Pure Financial Advisors Inc. bought a new position in shares of Kinder Morgan during the first quarter worth $212,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Kinder Morgan by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,664 shares of the pipeline company’s stock worth $36,168,000 after buying an additional 35,839 shares during the last quarter. Park National Corp OH raised its stake in shares of Kinder Morgan by 4.0% in the first quarter. Park National Corp OH now owns 13,939 shares of the pipeline company’s stock worth $303,000 after buying an additional 542 shares in the last quarter. Finally, Searle & CO. acquired a new stake in shares of Kinder Morgan during the fourth quarter worth approximately $257,000. Institutional investors own 57.70% of the company’s stock.
Shares of Kinder Morgan, Inc. (KMI) traded down 1.99% during mid-day trading on Tuesday, hitting $19.75. 10,587,456 shares of the stock traded hands. Kinder Morgan, Inc. has a 52 week low of $18.31 and a 52 week high of $23.36. The firm’s 50-day moving average is $19.56 and its 200-day moving average is $20.63. The stock has a market cap of $44.11 billion, a price-to-earnings ratio of 65.18 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $3.12 billion. During the same period in the prior year, the firm posted $0.15 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.53%. Kinder Morgan’s payout ratio is 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 outstanding 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 usually an indication that the company’s management believes its shares are undervalued.
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A number of equities analysts recently weighed in on the stock. BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Vetr downgraded shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective on the stock. in a report on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.91.
In related news, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dax Sanders acquired 2,600 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired 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 purchased a total of 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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