Traders Buy Shares of Kinder Morgan, Inc. (NYSE:KMI) on Weakness
Investors purchased shares of Kinder Morgan, Inc. (NYSE:KMI) on weakness during trading hours on Friday. $34.67 million flowed into the stock on the tick-up and $23.69 million flowed out of the stock on the tick-down, for a money net flow of $10.98 million into the stock. Of all stocks tracked, Kinder Morgan had the 28th highest net in-flow for the day. Kinder Morgan traded down ($0.32) for the day and closed at $19.07
Several analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $25.00 target price on shares of Kinder Morgan in a research report on Friday, July 14th. Raymond James Financial, Inc. reissued a “strong-buy” rating and set a $23.00 target price (down previously from $27.00) on shares of Kinder Morgan in a research report on Tuesday, June 20th. TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Mizuho assumed coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $25.00 target price (down previously from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $23.91.
The stock has a market capitalization of $42.59 billion, a PE ratio of 62.94 and a beta of 0.64. The stock’s 50-day moving average is $19.67 and its 200-day moving average is $20.55.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a $0.125 dividend. 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 declared that its board has authorized a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Dax Sanders acquired 2,600 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average cost of $18.60 per share, for a total transaction of $48,360.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the transaction, the insider now owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 507,503 shares of company stock worth $9,437,597. 13.99% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of KMI. Heritage Trust Co raised its position in Kinder Morgan by 457.7% in the second 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 period. First Bank & Trust increased its stake in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock worth $103,000 after buying an additional 408 shares during the period. Fiduciary Trust Co. acquired a new stake in Kinder Morgan during the second quarter worth approximately $115,000. Acrospire Investment Management LLC increased its stake in Kinder Morgan by 30.7% in the second 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 period. Finally, Parallel Advisors LLC increased its stake in Kinder Morgan by 14.0% in the second 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 period. Hedge funds and other institutional investors own 57.70% of the company’s stock.
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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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