Comerica Securities Inc. decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,667 shares of the pipeline company’s stock after selling 6,382 shares during the period. Comerica Securities Inc.’s holdings in Kinder Morgan were worth $415,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in KMI. Heritage Trust Co raised its position in Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 4,302 shares during the period. Fiduciary Trust Co. bought a new stake in Kinder Morgan in the second quarter worth about $115,000. Parallel Advisors LLC raised its position in Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 819 shares during the period. Trust Co. of Vermont raised its position in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 675 shares during the period. Finally, CWM LLC raised its position in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock worth $154,000 after acquiring an additional 7,127 shares during the period. 59.15% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on KMI shares. Wolfe Research lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $26.00 to $21.00 in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a research report on Monday, July 3rd. BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.91.
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Kinder Morgan, Inc. (NYSE:KMI) traded up 0.10% during mid-day trading on Friday, reaching $19.36. 9,389,560 shares of the company were exchanged. The stock has a market capitalization of $43.24 billion, a price-to-earnings ratio of 63.89 and a beta of 0.65. Kinder Morgan, Inc. has a one year low of $18.23 and a one year high of $23.36. The stock has a 50 day moving average of $19.37 and a 200-day moving average of $19.99.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business posted $0.15 EPS. Kinder Morgan’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its board has approved a share repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were bought at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now 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 this hyperlink. 13.99% of the stock is currently owned by company insiders.
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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