Regal Investment Advisors LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,568 shares of the pipeline company’s stock after selling 1,419 shares during the quarter. Regal Investment Advisors LLC’s holdings in Kinder Morgan were worth $356,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI raised its holdings in Kinder Morgan by 86.7% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 215,848 shares of the pipeline company’s stock valued at $4,693,000 after acquiring an additional 100,255 shares during the last quarter. APG Asset Management N.V. raised its holdings in Kinder Morgan by 1.3% in the 1st quarter. APG Asset Management N.V. now owns 7,703,693 shares of the pipeline company’s stock valued at $167,478,000 after acquiring an additional 98,966 shares during the last quarter. ING Groep NV raised its holdings in Kinder Morgan by 2.7% in the 1st quarter. ING Groep NV now owns 1,287,926 shares of the pipeline company’s stock valued at $28,000,000 after acquiring an additional 33,590 shares during the last quarter. Welch Group LLC raised its holdings in Kinder Morgan by 23.5% in the 1st quarter. Welch Group LLC now owns 15,752 shares of the pipeline company’s stock valued at $342,000 after acquiring an additional 2,996 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Kinder Morgan by 1.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,318,687 shares of the pipeline company’s stock valued at $115,628,000 after acquiring an additional 82,935 shares during the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on KMI shares. Zacks Investment Research downgraded 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 price objective (down previously from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.91.
Kinder Morgan, Inc. (KMI) traded up 1.41% during trading on Monday, hitting $19.41. 1,752,814 shares of the company were exchanged. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36. The company has a 50-day moving average of $19.48 and a 200-day moving average of $20.05. The company has a market capitalization of $43.35 billion, a price-to-earnings ratio of 64.06 and a beta of 0.65. Kinder Morgan also was the recipient of unusually large options trading activity on Friday. Stock investors bought 465 call options on the stock. This is an increase of approximately 122% compared to the average daily volume of 209 call options.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan announced that its board has initiated a stock repurchase program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.61%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.
In related news, 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 purchased at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.99% of the company’s stock.
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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