Boston Financial Mangement LLC Decreases Position in Kinder Morgan, Inc. (NYSE:KMI)
Boston Financial Mangement LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 15.6% during the second quarter, Holdings Channel reports. The institutional investor owned 20,084 shares of the pipeline company’s stock after selling 3,725 shares during the period. Boston Financial Mangement LLC’s holdings in Kinder Morgan were worth $385,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Kinder Morgan by 8.2% in the first quarter. Quadrant Capital Group LLC now owns 9,833 shares of the pipeline company’s stock valued at $199,000 after buying an additional 742 shares in the last quarter. Spirit of America Management Corp NY raised its position in shares of Kinder Morgan by 14.3% in the first quarter. Spirit of America Management Corp NY now owns 600,494 shares of the pipeline company’s stock valued at $13,055,000 after buying an additional 75,350 shares in the last quarter. First National Bank of Omaha bought a new position in shares of Kinder Morgan during the first quarter valued at $274,000. Grassi Investment Management raised its position in shares of Kinder Morgan by 6.8% in the first quarter. Grassi Investment Management now owns 158,663 shares of the pipeline company’s stock valued at $3,449,000 after buying an additional 10,106 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in shares of Kinder Morgan by 9.2% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 28,561 shares of the pipeline company’s stock valued at $621,000 after buying an additional 2,410 shares in the last quarter. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.75 on Thursday. The company has a market capitalization of $44.11 billion, a P/E ratio of 65.18 and a beta of 0.64. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36. The firm has a 50-day moving average of $19.64 and a 200-day moving average of $20.56.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan declared that its board has authorized a stock repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.125 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.53%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
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Several equities analysts have recently weighed in on KMI shares. Macquarie started coverage on shares of Kinder Morgan in a report on Friday, April 21st. They set a “neutral” rating and a $21.00 price objective on the stock. 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. Vetr lowered 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. Wells Fargo & Company reiterated an “outperform” rating and set a $25.00 price objective (down previously from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Finally, Sanford C. Bernstein started coverage on shares of Kinder Morgan in a report on Tuesday, May 16th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Kinder Morgan has an average rating of “Buy” and an average target price of $23.91.
In other news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the acquisition, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction on 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 disclosure for this purchase can be found here. Insiders acquired 507,503 shares of company stock valued at $9,437,597 over the last ninety days. 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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