Barnett & Company Inc. Increases Position in Kinder Morgan, Inc. (KMI)
Barnett & Company Inc. boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,051 shares of the pipeline company’s stock after buying an additional 333 shares during the period. Barnett & Company Inc.’s holdings in Kinder Morgan were worth $480,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of KMI. First National Bank of Omaha purchased a new position in shares of Kinder Morgan during the first quarter valued at about $274,000. Private Bank & Trust Co. raised its position in shares of Kinder Morgan by 14.5% in the first quarter. Private Bank & Trust Co. now owns 11,566 shares of the pipeline company’s stock valued at $251,000 after buying an additional 1,469 shares during the period. American National Bank raised its position in shares of Kinder Morgan by 27.4% in the first quarter. American National Bank now owns 137,860 shares of the pipeline company’s stock valued at $2,997,000 after buying an additional 29,675 shares during the period. BLB&B Advisors LLC raised its position in shares of Kinder Morgan by 2.6% in the first quarter. BLB&B Advisors LLC now owns 135,494 shares of the pipeline company’s stock valued at $2,946,000 after buying an additional 3,467 shares during the period. Finally, American Research & Management Co. raised its position in shares of Kinder Morgan by 5.4% in the first quarter. American Research & Management Co. now owns 28,089 shares of the pipeline company’s stock valued at $611,000 after buying an additional 1,450 shares during the period. 57.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.07 on Friday. Kinder Morgan, Inc. has a one year low of $18.31 and a one year high of $23.36. The firm has a 50 day moving average price of $19.68 and a 200 day moving average price of $20.53. The company has a market capitalization of $42.59 billion, a P/E ratio of 62.94 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ 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 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 business’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its board has authorized a stock buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed 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 2.62%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Several equities analysts have recently issued reports on KMI shares. Macquarie started coverage on Kinder Morgan in a research note on Friday, April 21st. They set a “neutral” rating and a $21.00 price target on the stock. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. Vetr lowered Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price target on the stock. in a research note on Monday, April 24th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $25.00 price target (down previously from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. Finally, Sanford C. Bernstein started coverage on Kinder Morgan in a research note on Tuesday, May 16th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $23.91.
In other Kinder Morgan news, VP Dax Sanders acquired 2,600 shares of the stock in a transaction dated Tuesday, May 30th. The stock was 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 SEC, which is available at this link. Also, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost 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 in the company, valued at approximately $295,240.88. The disclosure for this purchase can be found here. Over the last three months, insiders bought 507,503 shares of company stock valued at $9,437,597. Corporate insiders own 13.99% of the company’s stock.
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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