30,000 Shares in Kinder Morgan, Inc. (KMI) Acquired by Supplemental Annuity Collective Trust of NJ
Supplemental Annuity Collective Trust of NJ acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 30,000 shares of the pipeline company’s stock, valued at approximately $575,000.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after buying an additional 6,222,962 shares in the last quarter. Wellington Management Group LLP raised its position in Kinder Morgan by 8.2% in the first quarter. Wellington Management Group LLP now owns 29,672,731 shares of the pipeline company’s stock worth $645,086,000 after buying an additional 2,258,597 shares in the last quarter. Geode Capital Management LLC raised its position in Kinder Morgan by 7.7% in the first quarter. Geode Capital Management LLC now owns 18,346,909 shares of the pipeline company’s stock worth $398,283,000 after buying an additional 1,309,520 shares in the last quarter. Atlantic Trust Group LLC raised its position in Kinder Morgan by 6.3% in the first quarter. Atlantic Trust Group LLC now owns 11,337,726 shares of the pipeline company’s stock worth $246,482,000 after buying an additional 672,731 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its position in Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock worth $226,019,000 after buying an additional 976,320 shares in the last quarter. Hedge funds and other institutional investors own 57.70% of the company’s stock.
Kinder Morgan, Inc. (KMI) opened at 19.07 on Friday. The firm has a market cap of $42.59 billion, a price-to-earnings ratio of 62.94 and a beta of 0.64. Kinder Morgan, Inc. has a 52-week low of $18.31 and a 52-week high of $23.36. The company has a 50-day moving average of $19.68 and a 200 day moving average of $20.53.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. Kinder Morgan’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The business also recently declared 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. This represents a $0.50 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have weighed in on KMI shares. Wolfe Research lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Credit Suisse Group set a $27.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st. Morgan Stanley reissued an “overweight” rating and set a $25.00 target price on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, BMO Capital Markets 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $23.91.
In related news, insider Richard D. Kinder purchased 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the acquisition, the insider now owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders purchased 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $18.60 per share, for a total transaction of $48,360.00. 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 over the last ninety days. 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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