Twin Capital Management Inc. Increases Position in Kinder Morgan, Inc. (KMI)
Twin Capital Management Inc. increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 50.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,800 shares of the pipeline company’s stock after buying an additional 45,590 shares during the period. Twin Capital Management Inc.’s holdings in Kinder Morgan were worth $2,621,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in KMI. Moody Lynn & Lieberson LLC boosted its stake in shares of Kinder Morgan by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock valued at $403,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after buying an additional 60 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its stake in shares of Kinder Morgan by 0.8% in the first quarter. San Francisco Sentry Investment Group CA now owns 12,186 shares of the pipeline company’s stock valued at $265,000 after buying an additional 101 shares in the last quarter. Chatham Capital Group Inc. boosted its stake in shares of Kinder Morgan by 0.5% in the first quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock valued at $869,000 after buying an additional 200 shares in the last quarter. Finally, ProVise Management Group LLC boosted its stake in shares of Kinder Morgan by 0.5% in the first quarter. ProVise Management Group LLC now owns 50,352 shares of the pipeline company’s stock valued at $1,095,000 after buying an additional 255 shares in the last quarter. 57.40% of the stock is owned by institutional investors.
Kinder Morgan, Inc. (NYSE:KMI) opened at 19.17 on Friday. The firm has a 50-day moving average of $19.59 and a 200-day moving average of $20.27. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The stock has a market capitalization of $42.81 billion, a PE ratio of 63.27 and a beta of 0.64.
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 the Thomson Reuters’ 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 company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Kinder Morgan’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan, Inc. will post $0.65 EPS for the current year.
Kinder Morgan declared that its board has approved a stock buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.125 dividend. The ex-dividend date was Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.61%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
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Several analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $25.00 price objective on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. reissued a “strong-buy” rating and set a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. BidaskClub cut shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. TD Securities set a $26.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Mizuho began coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.91.
In related news, VP Dax Sanders acquired 2,600 shares of the firm’s stock in a transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the completion of the acquisition, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 507,503 shares of company stock worth $9,437,597. Corporate insiders own 13.99% of the company’s stock.
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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