Pinnacle Financial Partners Inc. purchased a new position in Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,950 shares of the pipeline company’s stock, valued at approximately $1,439,000.
A number of other institutional investors also recently made changes to their positions in the company. United Asset Strategies Inc. boosted its position in shares of Kinder Morgan by 3.8% in the second quarter. United Asset Strategies Inc. now owns 222,168 shares of the pipeline company’s stock worth $4,257,000 after buying an additional 8,177 shares during the period. UMB Bank N A MO boosted its position in shares of Kinder Morgan by 4.2% in the second quarter. UMB Bank N A MO now owns 31,416 shares of the pipeline company’s stock worth $602,000 after buying an additional 1,280 shares during the period. IFC Holdings Incorporated FL boosted its position in shares of Kinder Morgan by 3.1% in the second quarter. IFC Holdings Incorporated FL now owns 25,826 shares of the pipeline company’s stock worth $500,000 after buying an additional 785 shares during the period. Catalyst Capital Advisors LLC boosted its position in shares of Kinder Morgan by 8.7% in the second quarter. Catalyst Capital Advisors LLC now owns 607,171 shares of the pipeline company’s stock worth $11,633,000 after buying an additional 48,537 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Kinder Morgan by 0.3% in the second quarter. Rhumbline Advisers now owns 3,301,070 shares of the pipeline company’s stock worth $63,249,000 after buying an additional 8,882 shares during the period. 57.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 18.55 on Friday. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 61.22 and a beta of 0.64. The company’s 50 day moving average price is $19.65 and its 200 day moving average price is $20.40. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. On average, analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.125 dividend. The ex-dividend date was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.70%. Kinder Morgan’s payout ratio is 161.29%.
Kinder Morgan announced that its board has authorized a share buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $25.00 price objective on shares of Kinder Morgan in a research report on Friday, July 14th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research report on Tuesday, June 20th. BidaskClub lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday. TD Securities set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Mizuho assumed coverage on Kinder Morgan in a research report on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $23.91.
In other Kinder Morgan news, insider Richard D. Kinder acquired 500,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the transaction, the insider now directly owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, with a total value of $99,236.72. Following the transaction, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The disclosure for this purchase can be found here. Insiders bought a total of 507,503 shares of company stock valued at $9,437,597 in the last three months. 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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