JRM Investment Counsel LLC cut its stake in Kinder Morgan Inc (NYSE:KMI) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 211,639 shares of the pipeline company’s stock after selling 9,437 shares during the period. Kinder Morgan makes up approximately 3.1% of JRM Investment Counsel LLC’s holdings, making the stock its 9th largest holding. JRM Investment Counsel LLC’s holdings in Kinder Morgan were worth $4,419,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ingalls & Snyder LLC boosted its position in Kinder Morgan by 12.3% during the second quarter. Ingalls & Snyder LLC now owns 114,793 shares of the pipeline company’s stock worth $2,397,000 after acquiring an additional 12,569 shares during the last quarter. Somerset Group LLC acquired a new stake in Kinder Morgan during the first quarter worth approximately $200,000. Jackson Hole Capital Partners LLC boosted its position in Kinder Morgan by 9.8% during the first quarter. Jackson Hole Capital Partners LLC now owns 94,491 shares of the pipeline company’s stock worth $1,891,000 after acquiring an additional 8,415 shares during the last quarter. Chesapeake Wealth Management acquired a new stake in Kinder Morgan during the second quarter worth approximately $810,000. Finally, Lee Financial Co boosted its position in Kinder Morgan by 1.1% during the second quarter. Lee Financial Co now owns 75,678 shares of the pipeline company’s stock worth $1,580,000 after acquiring an additional 812 shares during the last quarter. 62.81% of the stock is owned by institutional investors.
In other Kinder Morgan news, insider Richard D. Kinder bought 300,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $19.68 per share, with a total value of $5,904,000.00. Following the purchase, the insider now owns 241,179,496 shares in the company, valued at approximately $4,746,412,481.28. The purchase was disclosed in a document filed with the SEC, which is available through this link. 13.95% of the stock is owned by company insiders.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. As a group, equities analysts predict that Kinder Morgan Inc will post 0.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.25 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. Kinder Morgan’s dividend payout ratio (DPR) is presently 112.36%.
A number of analysts recently issued reports on KMI shares. Stifel Nicolaus lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Monday, June 17th. Raymond James lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price on the stock. in a research report on Wednesday, June 26th. Wolfe Research upgraded shares of Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research report on Thursday. BMO Capital Markets lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research report on Monday, July 29th. Finally, ValuEngine lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Kinder Morgan has an average rating of “Hold” and an average price target of $21.75.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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