Investors Buy Kinder Morgan, Inc. (KMI) on Weakness
Traders bought shares of Kinder Morgan, Inc. (NYSE:KMI) on weakness during trading hours on Friday. $63.69 million flowed into the stock on the tick-up and $24.67 million flowed out of the stock on the tick-down, for a money net flow of $39.02 million into the stock. Of all companies tracked, Kinder Morgan had the 23rd highest net in-flow for the day. Kinder Morgan traded down ($0.23) for the day and closed at $18.42
KMI has been the subject of several research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price target on shares of Kinder Morgan in a report on Friday, June 23rd. Royal Bank Of Canada cut their price target on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, June 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a report on Monday, July 3rd. BidaskClub raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan currently has a consensus rating of “Buy” and an average target price of $23.53.
The stock has a market cap of $41.14 billion, a PE ratio of 60.79 and a beta of 0.65. The firm has a 50-day moving average of $19.15 and a 200-day moving average of $19.58.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The business 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 dividend of $0.125 per share. The ex-dividend date is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.71%. Kinder Morgan’s payout ratio is 161.29%.
Kinder Morgan announced that its board has initiated a share repurchase 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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director William A. Smith acquired 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.99% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KMI. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock valued at $3,019,777,000 after purchasing an additional 6,222,962 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Kinder Morgan by 45.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock valued at $378,101,000 after purchasing an additional 6,205,165 shares during the period. Renaissance Technologies LLC raised its stake in shares of Kinder Morgan by 133.5% during the 2nd quarter. Renaissance Technologies LLC now owns 8,210,372 shares of the pipeline company’s stock valued at $157,311,000 after purchasing an additional 4,694,441 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kinder Morgan by 56.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock valued at $210,507,000 after purchasing an additional 3,483,039 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Kinder Morgan by 49.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock valued at $219,271,000 after purchasing an additional 3,340,309 shares during the period. Institutional investors own 59.08% of the company’s stock.
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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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