Mycio Wealth Partners LLC Continues to Hold Stake in Kinder Morgan, Inc. (KMI)
Mycio Wealth Partners LLC continued to hold its position in shares of Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,658 shares of the pipeline company’s stock at the end of the second quarter. Mycio Wealth Partners LLC’s holdings in Kinder Morgan were worth $210,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Harbour Investment Management & Counsel LLC raised its position in Kinder Morgan by 0.3% in the second quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after buying an additional 50 shares during the period. Brookstone Capital Management bought a new position in Kinder Morgan during the second quarter worth $194,000. Blume Capital Management Inc. raised its position in Kinder Morgan by 15.4% in the second quarter. Blume Capital Management Inc. now owns 304,195 shares of the pipeline company’s stock worth $5,828,000 after buying an additional 40,700 shares during the period. Caz Investments LP raised its position in Kinder Morgan by 18.0% in the second quarter. Caz Investments LP now owns 46,670 shares of the pipeline company’s stock worth $894,000 after buying an additional 7,110 shares during the period. Finally, Pacer Advisors Inc. raised its position in Kinder Morgan by 8.4% in the second quarter. Pacer Advisors Inc. now owns 45,539 shares of the pipeline company’s stock worth $873,000 after buying an additional 3,516 shares during the period. 59.14% of the stock is owned by hedge funds and other institutional investors.
Kinder Morgan, Inc. (NYSE:KMI) opened at 19.07 on Thursday. The stock has a market capitalization of $42.59 billion, a P/E ratio of 62.94 and a beta of 0.64. The company’s 50-day moving average price is $19.59 and its 200 day moving average price is $20.27. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post $0.65 earnings per share for the current fiscal year.
Kinder Morgan declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
A number of research analysts recently weighed in on the company. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, July 28th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Mizuho assumed coverage on Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on Kinder Morgan in a research report on Tuesday, May 16th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.91.
In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction on Monday, July 31st. The shares were bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the acquisition, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.99% of the stock is owned by corporate insiders.
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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