Acrospire Investment Management LLC Acquires 1,600 Shares of Kinder Morgan, Inc. (KMI)

Acrospire Investment Management LLC grew its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 30.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,814 shares of the pipeline company’s stock after acquiring an additional 1,600 shares during the quarter. Acrospire Investment Management LLC’s holdings in Kinder Morgan were worth $131,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KMI. 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 acquiring an additional 6,222,962 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Kinder Morgan by 45.9% in the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock valued at $378,101,000 after acquiring an additional 6,205,165 shares during the period. 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 acquiring an additional 3,483,039 shares during the period. 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 acquiring an additional 3,340,309 shares during the period. Finally, 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 acquiring an additional 3,261,140 shares during the period. 59.12% of the stock is owned by institutional investors.

KMI has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Morgan Stanley reissued an “overweight” rating and issued a $25.00 target price on shares of Kinder Morgan in a research report on Monday, July 3rd. BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Royal Bank Of Canada reduced their target price on shares of Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $23.91.

Shares of Kinder Morgan, Inc. (NYSE KMI) traded up 0.232% on Tuesday, reaching $19.435. The company’s stock had a trading volume of 1,066,282 shares. The stock has a market cap of $43.40 billion, a P/E ratio of 64.142 and a beta of 0.65. The firm’s 50-day moving average price is $19.34 and its 200-day moving average price is $19.95. Kinder Morgan, Inc. has a 12 month low of $18.23 and a 12 month high of $23.36.

Kinder Morgan (NYSE:KMI) last issued its 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, 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 stock repurchase program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director William A. Smith bought 4,903 shares of the business’s stock in a transaction 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 directly owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.99% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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