Curbstone Financial Management Corp raised its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 100.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,410 shares of the pipeline company’s stock after purchasing an additional 11,205 shares during the quarter. Curbstone Financial Management Corp’s holdings in Kinder Morgan were worth $430,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in KMI. Vanguard Group Inc. raised 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. Commonwealth Bank of Australia raised its position in shares of Kinder Morgan by 45.9% during the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after acquiring an additional 6,205,165 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Kinder Morgan by 133.5% during the second quarter. Renaissance Technologies LLC now owns 8,210,372 shares of the pipeline company’s stock worth $157,311,000 after acquiring an additional 4,694,441 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kinder Morgan by 56.2% during the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after acquiring an additional 3,483,039 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Kinder Morgan by 49.5% during the first quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock worth $219,271,000 after acquiring an additional 3,340,309 shares during the last quarter. Institutional investors own 59.07% of the company’s stock.
Shares of Kinder Morgan, Inc. (KMI) traded up 0.17% during trading on Friday, hitting $18.03. The stock had a trading volume of 17,199,946 shares. The company has a market capitalization of $40.27 billion, a price-to-earnings ratio of 59.50 and a beta of 0.65. Kinder Morgan, Inc. has a 52 week low of $17.82 and a 52 week high of $23.01. The company’s 50 day moving average price is $19.05 and its 200 day moving average price is $19.49.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.37%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter last year, the company posted ($0.10) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts predict that Kinder Morgan, Inc. will post $0.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, October 30th. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 19th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts have recently weighed in on KMI shares. Stifel Nicolaus dropped their target price on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $18.81 to $22.00 in a research report on Tuesday, October 17th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 price objective on Kinder Morgan and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $23.03.
In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 13.99% of the company’s stock.
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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