Blankinship & Foster LLC continued to hold its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) during the first quarter, according to its most recent filing with the SEC. The fund owned 39,922 shares of the pipeline company’s stock at the end of the first quarter. Kinder Morgan makes up about 0.7% of Blankinship & Foster LLC’s portfolio, making the stock its 16th largest position. Blankinship & Foster LLC’s holdings in Kinder Morgan were worth $868,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. First Bank & Trust boosted its stake in shares of Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares during the period. Trust Co. of Vermont boosted its stake in shares of Kinder Morgan by 71.5% in the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock valued at $142,000 after buying an additional 2,719 shares during the period. 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 during the period. Salem Investment Counselors Inc. boosted its stake in shares of Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock valued at $171,000 after buying an additional 1,359 shares during the period. Finally, Davidson & Garrard Inc. purchased a new stake in shares of Kinder Morgan during the first quarter valued at about $202,000. 57.56% of the stock is currently owned by hedge funds and other institutional investors.
Kinder Morgan, Inc. (KMI) opened at 20.25 on Wednesday. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36. The stock has a market cap of $45.16 billion, a price-to-earnings ratio of 66.61 and a beta of 0.63. The firm’s 50 day moving average price is $19.20 and its 200 day moving average price is $20.70.
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 Zacks’ consensus estimate of $0.15 by $0.01. The business 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%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post $0.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.47%. Kinder Morgan’s payout ratio is 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a share buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages have recently issued reports on KMI. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Saturday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 target price on shares of Kinder Morgan in a report on Thursday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a report on Friday, July 14th. BidaskClub raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Sanford C. Bernstein began coverage on Kinder Morgan in a report on Tuesday, May 16th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Kinder Morgan currently has an average rating of “Buy” and a consensus price target of $24.03.
In other news, VP Dax Sanders purchased 2,600 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $18.60 per share, for a total transaction of $48,360.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard D. Kinder purchased 500,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the acquisition, the insider now directly owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. 13.99% of the stock is currently owned by corporate 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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