Wealthfront Inc. lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,997 shares of the pipeline company’s stock after selling 5,821 shares during the quarter. Wealthfront Inc.’s holdings in Kinder Morgan were worth $1,130,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Trust Co grew its holdings in Kinder Morgan by 457.7% during the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after buying an additional 4,302 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Kinder Morgan during the 2nd quarter valued at approximately $115,000. Acrospire Investment Management LLC grew its holdings in Kinder Morgan by 30.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after buying an additional 1,600 shares in the last quarter. Parallel Advisors LLC grew its holdings in Kinder Morgan by 14.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after buying an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in Kinder Morgan by 10.3% during the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after buying an additional 675 shares in the last quarter. Institutional investors and hedge funds own 59.12% of the company’s stock.
Several equities analysts have weighed in on KMI shares. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. TD Securities set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a report on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 target price on shares of Kinder Morgan in a report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.84.
In related news, Director William A. Smith acquired 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.99% of the stock is currently owned by company insiders.
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Kinder Morgan, Inc. (KMI) traded down 2.3546% on Thursday, hitting $19.3045. The stock had a trading volume of 3,192,367 shares. Kinder Morgan, Inc. has a 52-week low of $18.23 and a 52-week high of $23.36. The firm’s 50-day moving average is $19.31 and its 200-day moving average is $19.94. The company has a market cap of $43.11 billion, a P/E ratio of 63.7112 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. Equities research analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its board has authorized a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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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