Kinder Morgan, Inc. (KMI) Stake Decreased by Northern Trust Corp
Northern Trust Corp reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,531,726 shares of the pipeline company’s stock after selling 339,017 shares during the period. Northern Trust Corp owned 0.96% of Kinder Morgan worth $412,548,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in KMI. Private Harbour Investment Management & Counsel LLC lifted its stake in Kinder Morgan by 0.3% during the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 50 shares during the period. Guardian Life Insurance Co. of America lifted its stake in Kinder Morgan by 0.8% during the 1st quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 60 shares during the period. San Francisco Sentry Investment Group CA lifted its stake in Kinder Morgan by 0.8% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 12,186 shares of the pipeline company’s stock valued at $265,000 after acquiring an additional 101 shares during the period. Chatham Capital Group Inc. lifted its stake in Kinder Morgan by 0.5% during the 1st quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock valued at $869,000 after acquiring an additional 200 shares during the period. Finally, Merriman Wealth Management LLC lifted its stake in Kinder Morgan by 0.4% during the 2nd quarter. Merriman Wealth Management LLC now owns 59,481 shares of the pipeline company’s stock valued at $1,140,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 59.12% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down 1.3146% during mid-day trading on Thursday, reaching $19.5101. The company’s stock had a trading volume of 1,286,797 shares. The company has a market capitalization of $43.57 billion, a PE ratio of 64.3898 and a beta of 0.65. The firm’s 50 day moving average is $19.31 and its 200-day moving average is $19.94. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company earned $0.15 EPS. Kinder Morgan’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan announced that its Board of Directors has approved a share buyback program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other Kinder Morgan news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.99% of the stock is owned by corporate insiders.
Several analysts have commented on KMI shares. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Wolfe Research lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $26.00 to $21.00 in a report on Tuesday, May 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 target price on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, Mizuho initiated coverage on shares of Kinder Morgan in a report on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $23.84.
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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