Piedmont Investment Advisors LLC raised its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,348 shares of the pipeline company’s stock after purchasing an additional 3,045 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Kinder Morgan were worth $7,881,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Heritage Trust Co increased its stake in shares of Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after purchasing an additional 4,302 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $115,000. Parallel Advisors LLC increased its stake in shares of Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after purchasing an additional 819 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Kinder Morgan by 30.7% in the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after purchasing an additional 1,600 shares during the period. Finally, Trust Co. of Vermont increased its stake in shares of Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after purchasing an additional 675 shares during the period. Institutional investors own 59.11% of the company’s stock.
Several brokerages have commented on KMI. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating and issued a $23.00 price target on shares of Kinder Morgan in a research note on Friday, June 23rd. TD Securities set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada dropped their price target on shares of Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 27th. Finally, BMO Capital Markets set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.84.
Kinder Morgan, Inc. (NYSE KMI) traded up 0.0784% during trading on Friday, reaching $18.8948. 1,838,451 shares of the company were exchanged. The firm has a 50-day moving average of $19.23 and a 200-day moving average of $19.70. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.01. The firm has a market cap of $42.20 billion, a price-to-earnings ratio of 62.3591 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $0.15 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.
Kinder Morgan announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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In related news, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was 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 $295,240.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.99% of the stock is owned by corporate 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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