Boston Financial Mangement LLC Has $280,000 Position in Kinder Morgan, Inc. (KMI)
Boston Financial Mangement LLC lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 27.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,583 shares of the pipeline company’s stock after selling 5,501 shares during the quarter. Boston Financial Mangement LLC’s holdings in Kinder Morgan were worth $280,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in KMI. Heritage Trust Co grew its position in Kinder Morgan by 457.7% during the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after buying an additional 4,302 shares during the period. Fiduciary Trust Co. acquired a new stake in Kinder Morgan during the second quarter valued at $115,000. Acrospire Investment Management LLC grew its position in Kinder Morgan by 30.7% during the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after buying an additional 1,600 shares during the period. Parallel Advisors LLC grew its position in Kinder Morgan by 14.0% during the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after buying an additional 819 shares during the period. Finally, Trust Co. of Vermont grew its position in Kinder Morgan by 10.3% during the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after buying an additional 675 shares during the period. Institutional investors own 59.09% of the company’s stock.
Several analysts recently commented on the stock. Stifel Nicolaus dropped their price target on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Mizuho restated a “hold” rating and set a $22.00 price target on shares of Kinder Morgan in a research report on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, October 19th. Citigroup Inc. dropped their price target on shares of Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Finally, Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.03.
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Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) EPS.
Kinder Morgan announced that its Board of Directors has approved a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.83%. Kinder Morgan’s payout ratio is 89.29%.
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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