NJ State Employees Deferred Compensation Plan reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 60.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,265 shares of the pipeline company’s stock after selling 26,117 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Kinder Morgan were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in Kinder Morgan by 1.0% in the second quarter. CIBC Asset Management Inc now owns 196,617 shares of the pipeline company’s stock worth $3,767,000 after buying an additional 1,926 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in Kinder Morgan by 5.9% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 30,259 shares of the pipeline company’s stock worth $580,000 after buying an additional 1,698 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Kinder Morgan by 8.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 745,995 shares of the pipeline company’s stock worth $14,293,000 after buying an additional 54,965 shares during the last quarter. Mcrae Capital Management Inc. boosted its stake in Kinder Morgan by 10.2% in the second quarter. Mcrae Capital Management Inc. now owns 154,239 shares of the pipeline company’s stock worth $2,955,000 after buying an additional 14,250 shares during the last quarter. Finally, American Research & Management Co. boosted its stake in Kinder Morgan by 2.5% in the second quarter. American Research & Management Co. now owns 28,790 shares of the pipeline company’s stock worth $552,000 after buying an additional 701 shares during the last quarter. Institutional investors and hedge funds own 57.70% of the company’s stock.

Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.07 on Friday. The stock’s 50 day moving average price is $19.68 and its 200-day moving average price is $20.53. Kinder Morgan, Inc. has a 12-month low of $18.31 and a 12-month high of $23.36. The firm has a market cap of $42.59 billion, a P/E ratio of 62.94 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 analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. On average, analysts predict 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 Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.62%. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.

Kinder Morgan announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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A number of analysts recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a research note on Friday, July 28th. Mizuho assumed coverage on Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price for the company. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. One 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. The stock presently has an average rating of “Buy” and a consensus target price of $23.91.

In related news, VP Dax Sanders acquired 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $18.60 per share, with a total value of $48,360.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William A. Smith acquired 4,903 shares of the company’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 acquisition, the director now directly owns 14,587 shares in the company, valued at approximately $295,240.88. The disclosure for this purchase can be found here. Insiders have purchased a total of 507,503 shares of company stock worth $9,437,597 in the last three months. 13.99% of the stock is currently owned by 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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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