Los Angeles Capital Management & Equity Research Inc. Reduces Position in Kinder Morgan, Inc. (KMI)

Los Angeles Capital Management & Equity Research Inc. decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 243,195 shares of the pipeline company’s stock after selling 2,501 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Kinder Morgan were worth $4,660,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Kinder Morgan by 4.7% during the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after acquiring an additional 6,222,962 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Kinder Morgan by 8.2% during the first quarter. Wellington Management Group LLP now owns 29,672,731 shares of the pipeline company’s stock worth $645,086,000 after acquiring an additional 2,258,597 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kinder Morgan by 7.7% during the first quarter. Geode Capital Management LLC now owns 18,346,909 shares of the pipeline company’s stock worth $398,283,000 after acquiring an additional 1,309,520 shares during the last quarter. Atlantic Trust Group LLC boosted its position in shares of Kinder Morgan by 1.3% during the second quarter. Atlantic Trust Group LLC now owns 11,484,627 shares of the pipeline company’s stock worth $220,046,000 after acquiring an additional 146,901 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Kinder Morgan by 3.9% during the second quarter. Legal & General Group Plc now owns 10,677,335 shares of the pipeline company’s stock worth $204,577,000 after acquiring an additional 403,448 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Shares of Kinder Morgan, Inc. (NYSE:KMI) opened at 19.36 on Wednesday. Kinder Morgan, Inc. has a 12-month low of $18.23 and a 12-month high of $23.36. The stock has a 50 day moving average of $19.48 and a 200 day moving average of $20.03. The company has a market cap of $43.24 billion, a price-to-earnings ratio of 63.89 and a beta of 0.65.

Kinder Morgan (NYSE:KMI) last posted its 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). Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $0.15 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.

Kinder Morgan declared that its board has approved a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a $0.125 dividend. 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 2.58%. Kinder Morgan’s payout ratio is currently 161.29%.

Several equities analysts have commented on KMI shares. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Mizuho started coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Sanford C. Bernstein started coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.91.

In related 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, with a total value of $99,236.72. Following the completion of the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.99% of the company’s stock.

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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.

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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