Merriman Wealth Management LLC Purchases 239 Shares of Kinder Morgan, Inc. (KMI)
Merriman Wealth Management LLC boosted its stake in Kinder Morgan, Inc. (NYSE:KMI) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,481 shares of the pipeline company’s stock after buying an additional 239 shares during the period. Merriman Wealth Management LLC’s holdings in Kinder Morgan were worth $1,140,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Kinder Morgan during the first quarter valued at approximately $244,000. Court Place Advisors LLC raised its position in Kinder Morgan by 3.4% in the first quarter. Court Place Advisors LLC now owns 20,103 shares of the pipeline company’s stock valued at $437,000 after buying an additional 660 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its position in Kinder Morgan by 105.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 48,935 shares of the pipeline company’s stock valued at $1,064,000 after buying an additional 25,145 shares in the last quarter. Narwhal Capital Management raised its position in Kinder Morgan by 44.7% in the first quarter. Narwhal Capital Management now owns 62,110 shares of the pipeline company’s stock valued at $1,350,000 after buying an additional 19,180 shares in the last quarter. Finally, Everett Harris & Co. CA raised its position in Kinder Morgan by 12.9% in the first quarter. Everett Harris & Co. CA now owns 127,345 shares of the pipeline company’s stock valued at $2,768,000 after buying an additional 14,502 shares in the last quarter. Institutional investors and hedge funds own 59.14% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.01 on Tuesday. Kinder Morgan, Inc. has a one year low of $18.23 and a one year high of $23.36. The firm has a 50-day moving average of $19.59 and a 200-day moving average of $20.27. The firm has a market capitalization of $42.45 billion, a P/E ratio of 62.74 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ 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 analysts’ expectations of $3.12 billion. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Kinder Morgan, Inc. will post $0.65 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
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Several equities analysts have recently commented on KMI shares. Wells Fargo & Company restated an “outperform” rating and set a $25.00 price target (down previously from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. Sanford C. Bernstein began coverage on shares of Kinder Morgan in a report on Tuesday, May 16th. They issued a “market perform” rating for the company. Wolfe Research downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $26.00 to $21.00 in a report on Tuesday, May 30th. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Finally, Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.91.
In related news, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The stock was bought at an average cost 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.99% of the stock is currently owned by 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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