Chicago Partners Investment Group LLC Has $8.89 Million Position in Kinder Morgan, Inc. (KMI)
Chicago Partners Investment Group LLC cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 442,703 shares of the pipeline company’s stock after selling 77,033 shares during the period. Kinder Morgan accounts for about 2.3% of Chicago Partners Investment Group LLC’s investment portfolio, making the stock its 10th largest position. Chicago Partners Investment Group LLC’s holdings in Kinder Morgan were worth $8,888,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Bank & Trust raised its position in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock worth $103,000 after buying an additional 408 shares in the last quarter. Trust Co. of Vermont raised its position in Kinder Morgan by 71.5% in the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock worth $142,000 after buying an additional 2,719 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after buying an additional 60 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock worth $171,000 after buying an additional 1,359 shares in the last quarter. Finally, CWM LLC raised its position in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock worth $154,000 after buying an additional 7,127 shares in the last quarter. Institutional investors own 57.40% of the company’s stock.
Shares of Kinder Morgan, Inc. (KMI) opened at 19.03 on Tuesday. The company’s 50-day moving average is $19.69 and its 200-day moving average is $20.47. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The stock has a market cap of $42.50 billion, a P/E ratio of 62.81 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $3.37 billion for 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 firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. On average, analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.50 annualized dividend and a yield of 2.63%. Kinder Morgan’s payout ratio is 161.29%.
Kinder Morgan declared that its board has approved a stock buyback plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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A number of research analysts have commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $20.00 price objective on shares of Kinder Morgan in a research note on Thursday, July 20th. Sanford C. Bernstein assumed coverage on shares of Kinder Morgan in a research note on Tuesday, May 16th. They issued a “market perform” rating on the stock. BidaskClub upgraded shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Mizuho assumed coverage on shares of Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. 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. The company has a consensus rating of “Buy” and an average target price of $23.91.
In related news, Director William A. Smith bought 4,903 shares of the stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard D. Kinder bought 500,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the purchase, the insider now owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 507,503 shares of company stock worth $9,437,597. 13.99% of the stock is owned by corporate insiders.
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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