Kinder Morgan, Inc. (NYSE:KMI) – Research analysts at US Capital Advisors decreased their Q2 2017 EPS estimates for shares of Kinder Morgan in a research note issued on Monday. US Capital Advisors analyst B. Followill now anticipates that the pipeline company will earn $0.15 per share for the quarter, down from their previous estimate of $0.16. US Capital Advisors also issued estimates for Kinder Morgan’s Q4 2017 earnings at $0.18 EPS, FY2017 earnings at $0.65 EPS, Q2 2018 earnings at $0.18 EPS and FY2018 earnings at $0.75 EPS.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results 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 4.45% and a net margin of 6.20%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. Kinder Morgan’s revenue for the quarter was up 7.1% compared to the same quarter last year.
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KMI has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research report on Friday, June 23rd. TD Securities set a $26.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Sanford C. Bernstein began coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Kinder Morgan currently has a consensus rating of “Buy” and an average price target of $24.03.
Kinder Morgan (KMI) opened at 20.56 on Wednesday. Kinder Morgan has a 12-month low of $18.31 and a 12-month high of $23.36. The stock has a market capitalization of $45.90 billion, a price-to-earnings ratio of 68.08 and a beta of 0.63. The firm has a 50-day moving average of $19.11 and a 200 day moving average of $20.73.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan announced that its Board of Directors has authorized a share buyback program on Wednesday, July 19th that allows the company to buyback $2.00 billion in 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 an indication that the company’s board of directors believes its shares are undervalued.
In other Kinder Morgan news, insider Richard D. Kinder purchased 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the purchase, the insider now directly owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dax Sanders purchased 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. 13.99% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of KMI. Court Place Advisors LLC boosted its stake in shares of Kinder Morgan by 58.3% in the second quarter. Court Place Advisors LLC now owns 31,825 shares of the pipeline company’s stock worth $610,000 after buying an additional 11,722 shares in the last quarter. Private Capital Management Inc. boosted its stake in shares of Kinder Morgan by 44.1% in the second quarter. Private Capital Management Inc. now owns 17,000 shares of the pipeline company’s stock worth $326,000 after buying an additional 5,200 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Kinder Morgan by 7.3% in the second quarter. Gulf International Bank UK Ltd now owns 634,223 shares of the pipeline company’s stock worth $12,151,000 after buying an additional 42,956 shares in the last quarter. Bollard Group LLC boosted its stake in shares of Kinder Morgan by 1.0% in the second quarter. Bollard Group LLC now owns 322,973 shares of the pipeline company’s stock worth $6,188,000 after buying an additional 3,081 shares in the last quarter. Finally, Karpas Strategies LLC boosted its stake in shares of Kinder Morgan by 4.0% in the second quarter. Karpas Strategies LLC now owns 104,715 shares of the pipeline company’s stock worth $2,006,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 57.53% of the company’s stock.
Kinder Morgan Company 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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