Kinder Morgan, Inc. (KMI) Shares Sold by Employees Retirement System of Texas
Employees Retirement System of Texas trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 324,000 shares of the pipeline company’s stock after selling 3,000 shares during the period. Employees Retirement System of Texas’ holdings in Kinder Morgan were worth $6,208,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Heritage Trust Co boosted its holdings in Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after buying an additional 4,302 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Kinder Morgan in the 2nd quarter worth about $115,000. Parallel Advisors LLC boosted its holdings in Kinder Morgan by 14.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after buying an additional 819 shares during the last quarter. Acrospire Investment Management LLC boosted its holdings in Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after buying an additional 1,600 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in Kinder Morgan by 10.3% in the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after buying an additional 675 shares during the last quarter. Institutional investors own 59.13% of the company’s stock.
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Kinder Morgan, Inc. (NYSE KMI) opened at 18.85 on Thursday. Kinder Morgan, Inc. has a 12-month low of $18.23 and a 12-month high of $23.01. The company has a 50-day moving average price of $19.17 and a 200-day moving average price of $19.78. The firm has a market capitalization of $42.10 billion, a PE ratio of 62.21 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
Kinder Morgan announced that its Board of Directors has initiated a share buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several equities research analysts recently issued reports on KMI shares. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of Kinder Morgan in a report on Friday, June 23rd. Finally, Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan currently has an average rating of “Buy” and a consensus target price of $23.84.
In other news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased 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 $295,240.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.99% of the stock is currently owned by company insiders.
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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