Fort Pitt Capital Group LLC increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 5.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 157,889 shares of the pipeline company’s stock after buying an additional 8,195 shares during the period. Fort Pitt Capital Group LLC’s holdings in Kinder Morgan were worth $3,433,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of KMI. AQR Capital Management LLC boosted its position in shares of Kinder Morgan by 57.9% in the fourth quarter. AQR Capital Management LLC now owns 5,366,079 shares of the pipeline company’s stock valued at $111,132,000 after buying an additional 1,968,680 shares during the period. Guggenheim Capital LLC boosted its position in shares of Kinder Morgan by 33.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,473,035 shares of the pipeline company’s stock valued at $51,216,000 after buying an additional 613,262 shares during the period. Seven Eight Capital LP purchased a new stake in Kinder Morgan during the fourth quarter valued at about $1,630,000. Gen IV Investment Opportunities LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at about $18,190,000. Finally, Tudor Investment Corp Et Al raised its stake in Kinder Morgan by 125.0% in the fourth quarter. Tudor Investment Corp Et Al now owns 66,479 shares of the pipeline company’s stock valued at $1,377,000 after buying an additional 36,936 shares in the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down 0.34% on Friday, reaching $20.40. The company’s stock had a trading volume of 7,682,447 shares. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 67.33 and a beta of 0.63. The stock has a 50-day moving average price of $19.38 and a 200-day moving average price of $20.68. Kinder Morgan, Inc. has a 1-year low of $18.31 and a 1-year high of $23.36.
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 the Zacks’ 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 analyst estimates of $3.12 billion. During the same period last year, the company posted $0.15 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan declared that its Board of Directors has approved a share repurchase program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of research analysts recently weighed in on KMI shares. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. TD Securities set a $26.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr lowered Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price target on the stock. in a research note on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.91.
In other Kinder Morgan news, insider Richard D. Kinder purchased 500,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the transaction, the insider now owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dax Sanders purchased 2,600 shares of the stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average cost of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. 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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