Wetherby Asset Management Inc. increased its holdings in Kinder Morgan Inc (NYSE:KMI) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,638 shares of the pipeline company’s stock after acquiring an additional 1,707 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Kinder Morgan were worth $744,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Strs Ohio increased its holdings in shares of Kinder Morgan by 6.4% in the 2nd quarter. Strs Ohio now owns 1,414,246 shares of the pipeline company’s stock valued at $29,529,000 after acquiring an additional 85,691 shares during the period. Hartford Investment Management Co. increased its stake in Kinder Morgan by 0.7% in the 2nd quarter. Hartford Investment Management Co. now owns 212,849 shares of the pipeline company’s stock valued at $4,444,000 after buying an additional 1,446 shares during the period. Arizona State Retirement System increased its stake in Kinder Morgan by 37.6% in the 2nd quarter. Arizona State Retirement System now owns 648,607 shares of the pipeline company’s stock valued at $13,543,000 after buying an additional 177,128 shares during the period. Brand Asset Management Group Inc. acquired a new position in Kinder Morgan in the 2nd quarter valued at $45,000. Finally, Greenleaf Trust acquired a new position in Kinder Morgan in the 2nd quarter valued at $221,000. 62.56% of the stock is currently owned by institutional investors and hedge funds.
In other Kinder Morgan news, insider Richard D. Kinder acquired 300,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $19.53 per share, for a total transaction of $5,859,000.00. Following the transaction, the insider now directly owns 240,879,496 shares of the company’s stock, valued at $4,704,376,556.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard D. Kinder acquired 177,542 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $19.43 per share, for a total transaction of $3,449,641.06. Following the completion of the transaction, the insider now directly owns 240,579,496 shares in the company, valued at $4,674,459,607.28. The disclosure for this purchase can be found here. Insiders purchased a total of 777,542 shares of company stock worth $15,212,641 over the last quarter. Insiders own 13.95% of the company’s stock.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. Kinder Morgan’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, sell-side analysts forecast that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.00 annualized dividend and a dividend yield of 5.09%. Kinder Morgan’s payout ratio is currently 112.36%.
KMI has been the topic of several recent research reports. BMO Capital Markets cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research note on Monday, July 29th. ValuEngine cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Raymond James cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective on the stock. in a research note on Wednesday, June 26th. Stifel Nicolaus cut shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Monday, June 17th. Finally, Johnson Rice initiated coverage on shares of Kinder Morgan in a research note on Thursday, May 30th. They issued a “hold” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Kinder Morgan has an average rating of “Hold” and a consensus price target of $21.75.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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