Violich Capital Management Inc. reduced its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 24.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,975 shares of the pipeline company’s stock after selling 3,502 shares during the period. Violich Capital Management Inc.’s holdings in Kinder Morgan were worth $229,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Sageworth Trust Co purchased a new position in shares of Kinder Morgan in the 2nd quarter valued at $209,000. SeaCrest Wealth Management LLC increased its holdings in shares of Kinder Morgan by 2.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 18,851 shares of the pipeline company’s stock valued at $394,000 after acquiring an additional 497 shares during the period. FDx Advisors Inc. increased its holdings in shares of Kinder Morgan by 31.8% in the 2nd quarter. FDx Advisors Inc. now owns 43,745 shares of the pipeline company’s stock valued at $913,000 after acquiring an additional 10,565 shares during the period. Hanseatic Management Services Inc. purchased a new position in shares of Kinder Morgan in the 2nd quarter valued at $168,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Kinder Morgan by 1.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,254,163 shares of the pipeline company’s stock valued at $26,186,000 after acquiring an additional 17,716 shares during the period. 62.53% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Richard D. Kinder purchased 200,000 shares of the stock in a transaction on Monday, May 6th. The stock was bought at an average price of $19.47 per share, with a total value of $3,894,000.00. Following the transaction, the insider now owns 240,401,954 shares in the company, valued at approximately $4,680,626,044.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard D. Kinder purchased 300,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $19.68 per share, with a total value of $5,904,000.00. Following the transaction, the insider now owns 241,179,496 shares in the company, valued at approximately $4,746,412,481.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,377,542 shares of company stock valued at $26,918,641. 13.95% of the stock is currently owned by insiders.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. Kinder Morgan’s dividend payout ratio is currently 112.36%.
A number of brokerages have recently issued reports on KMI. Johnson Rice began coverage on Kinder Morgan in a report on Thursday, May 30th. They issued a “hold” rating and a $21.00 price target on the stock. Zacks Investment Research reiterated a “buy” rating and issued a $23.00 price target on shares of Kinder Morgan in a report on Saturday, June 29th. Stifel Nicolaus downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Monday, June 17th. Raymond James downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price on the stock. in a research note on Wednesday, June 26th. Finally, BMO Capital Markets downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.75.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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