Profund Advisors LLC reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,888 shares of the pipeline company’s stock after selling 21,830 shares during the quarter. Profund Advisors LLC’s holdings in Kinder Morgan were worth $2,987,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Heritage Trust Co raised its holdings in Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after acquiring an additional 4,302 shares during the period. Fiduciary Trust Co. bought a new position in shares of Kinder Morgan during the second quarter worth approximately $115,000. Trust Co. of Vermont increased its holdings in shares of Kinder Morgan by 71.5% during the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 2,719 shares during the period. Parallel Advisors LLC increased its holdings in shares of Kinder Morgan by 14.0% during the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 819 shares during the period. Finally, Guardian Life Insurance Co. of America increased its holdings in shares of Kinder Morgan by 0.8% during the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 60 shares during the period. 59.15% of the stock is currently owned by hedge funds and other institutional investors.
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In other Kinder Morgan 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 price of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now 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 is available at this hyperlink. 13.99% of the stock is currently owned by corporate insiders.
Shares of 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’s stock were exchanged. The company has a 50 day moving average price of $19.37 and a 200 day moving average price of $19.99. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The firm has a market cap of $43.24 billion, a P/E ratio of 63.89 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last issued 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). 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company earned $0.15 EPS. Kinder Morgan’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have recently commented on the stock. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Kinder Morgan in a report on Friday, July 28th. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Mizuho assumed coverage on shares of Kinder Morgan in a report on Thursday, July 27th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of Kinder Morgan in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $23.91.
Kinder Morgan 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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