New Mexico Educational Retirement Board decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 178,430 shares of the pipeline company’s stock after selling 16,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Kinder Morgan were worth $3,645,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock valued at $3,019,777,000 after buying an additional 6,222,962 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock valued at $210,507,000 after buying an additional 3,483,039 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Kinder Morgan by 49.5% in the first quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock valued at $219,271,000 after buying an additional 3,340,309 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Kinder Morgan by 315.2% in the first quarter. Pictet Asset Management Ltd. now owns 4,295,682 shares of the pipeline company’s stock valued at $93,388,000 after buying an additional 3,261,140 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its position in shares of Kinder Morgan by 164.4% in the first quarter. Eagle Global Advisors LLC now owns 4,192,327 shares of the pipeline company’s stock valued at $91,141,000 after buying an additional 2,606,772 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.
Kinder Morgan, Inc. (NYSE:KMI) opened at 18.71 on Thursday. Kinder Morgan, Inc. has a 12 month low of $18.31 and a 12 month high of $23.36. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 61.75 and a beta of 0.64. The company’s 50-day moving average is $19.68 and its 200 day moving average is $20.44.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results 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 business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan declared that its Board of Directors has approved 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
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KMI has been the subject of several recent analyst reports. Credit Suisse Group set a $27.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, April 20th. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Wells Fargo & Company reiterated an “outperform” rating and issued a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of Kinder Morgan in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.91.
In other Kinder Morgan news, VP Dax Sanders purchased 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $18.60 per share, for a total transaction of $48,360.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 507,503 shares of company stock worth $9,437,597. 13.99% of the stock is owned by company insiders.
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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