Exchange Capital Management Inc. reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 35.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,003 shares of the pipeline company’s stock after selling 7,222 shares during the period. Exchange Capital Management Inc.’s holdings in Kinder Morgan were worth $249,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. First Bank & Trust boosted its position in shares of Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares during the period. Trust Co. of Vermont boosted its position in shares of Kinder Morgan by 10.3% in 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. CWM LLC boosted its position in shares of Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock valued at $154,000 after buying an additional 7,127 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of 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 valued at $161,000 after buying an additional 60 shares during the period. Finally, Salem Investment Counselors Inc. boosted its position in shares of Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock valued at $171,000 after buying an additional 1,359 shares during the period. Institutional investors own 57.70% of the company’s stock.

Kinder Morgan, Inc. (NYSE KMI) opened at 19.07 on Friday. The stock has a 50 day moving average price of $19.68 and a 200-day moving average price of $20.53. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The stock has a market capitalization of $42.59 billion, a PE ratio of 62.94 and a beta of 0.64.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, equities analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.

The company 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 dividend of $0.125 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.62%. Kinder Morgan’s payout ratio is 161.29%.

Kinder Morgan declared that its board has approved a stock buyback program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: “Exchange Capital Management Inc. Sells 7,222 Shares of Kinder Morgan, Inc. (KMI)” was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another website, it was stolen and reposted in violation of U.S. and international copyright law. The legal version of this report can be accessed at https://www.watchlistnews.com/exchange-capital-management-inc-sells-7222-shares-of-kinder-morgan-inc-kmi/1476771.html.

Several equities analysts have recently weighed in on KMI shares. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. TD Securities set a $26.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr cut Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 target price for the company. in a research report on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently 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 that occurred on Monday, July 31st. The stock was bought at an average price of $20.24 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the transaction, the insider now owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 507,503 shares of company stock valued at $9,437,597. Company 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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI).

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

Receive News & Ratings for Kinder Morgan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.