Sandy Spring Bank decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,562 shares of the pipeline company’s stock after selling 464 shares during the period. Sandy Spring Bank’s holdings in Kinder Morgan were worth $183,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. BT Investment Management Ltd bought a new stake in shares of Kinder Morgan during the 2nd quarter worth about $4,624,000. BlueMountain Capital Management LLC bought a new stake in shares of Kinder Morgan during the 2nd quarter worth about $1,466,000. Amalgamated Bank boosted its holdings in shares of Kinder Morgan by 60.3% during the 2nd quarter. Amalgamated Bank now owns 216,634 shares of the pipeline company’s stock worth $4,151,000 after buying an additional 81,456 shares during the period. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Kinder Morgan by 10.0% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,653,565 shares of the pipeline company’s stock worth $31,682,000 after buying an additional 149,981 shares during the period. Finally, Emory University boosted its holdings in shares of Kinder Morgan by 10.1% during the 2nd quarter. Emory University now owns 79,457 shares of the pipeline company’s stock worth $1,522,000 after buying an additional 7,268 shares during the period. 59.12% of the stock is owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) traded up 0.2398% during trading on Tuesday, hitting $19.4365. 418,004 shares of the stock traded hands. The company has a market cap of $43.41 billion, a P/E ratio of 64.1469 and a beta of 0.65. Kinder Morgan, Inc. has a 1-year low of $18.23 and a 1-year high of $23.36. The stock has a 50-day moving average of $19.34 and a 200 day moving average of $19.95.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 net margin of 6.20% and a return on equity of 4.41%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $0.15 earnings per share. Kinder Morgan’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Kinder Morgan, Inc. will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its board has approved a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, Director William A. Smith acquired 4,903 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.99% of the stock is currently owned by company insiders.
KMI has been the subject of several research analyst reports. Wolfe Research downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $26.00 to $21.00 in a report on Tuesday, May 30th. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $23.91.
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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