Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,830 shares of the pipeline company’s stock after purchasing an additional 9,541 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Kinder Morgan were worth $4,442,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Camden Asset Management L P CA boosted its position in Kinder Morgan by 7.4% during the 2nd quarter. Camden Asset Management L P CA now owns 1,239,300 shares of the pipeline company’s stock valued at $23,745,000 after purchasing an additional 85,600 shares during the period. Financial Counselors Inc. boosted its position in Kinder Morgan by 28.8% during the 2nd quarter. Financial Counselors Inc. now owns 27,181 shares of the pipeline company’s stock valued at $521,000 after purchasing an additional 6,083 shares during the period. CI Global Investments Inc. boosted its position in Kinder Morgan by 191.7% during the 2nd quarter. CI Global Investments Inc. now owns 2,051,517 shares of the pipeline company’s stock valued at $39,307,000 after purchasing an additional 1,348,314 shares during the period. Aberdeen Asset Management PLC UK boosted its position in Kinder Morgan by 8.9% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,336,703 shares of the pipeline company’s stock valued at $25,611,000 after purchasing an additional 108,996 shares during the period. Finally, Hennessy Advisors Inc. boosted its position in Kinder Morgan by 11.7% during the 2nd quarter. Hennessy Advisors Inc. now owns 3,814,101 shares of the pipeline company’s stock valued at $73,078,000 after purchasing an additional 400,000 shares during the period. Institutional investors and hedge funds own 59.15% of the company’s stock.
In other news, Director William A. Smith acquired 4,903 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were purchased at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following 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 filing with the SEC, which can be accessed through this link. 13.99% of the stock is owned by corporate insiders.
Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.44 on Tuesday. The company has a market cap of $43.41 billion, a P/E ratio of 64.16 and a beta of 0.65. The stock has a 50 day moving average price of $19.48 and a 200-day moving average price of $20.03. Kinder Morgan, Inc. has a 1-year low of $18.23 and a 1-year high of $23.36.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 dividend on an annualized basis and a yield of 2.57%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
Kinder Morgan declared that its Board of Directors has approved a share buyback plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding 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 generally a sign that the company’s board believes its shares are undervalued.
A number of research firms recently issued reports on KMI. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Jefferies Group LLC restated a “hold” rating and set a $23.00 price objective on shares of Kinder Morgan in a research report on Friday, June 23rd. TD Securities set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Sanford C. Bernstein began coverage on Kinder Morgan in a research report on Tuesday, May 16th. They set a “market perform” rating for the company. 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 stock. The company currently has an average rating of “Buy” and an average target price of $23.91.
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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