Kinder Morgan Sees Unusually High Options Volume (KMI)
Kinder Morgan, Inc. (NYSE:KMI) saw some unusual options trading activity on Friday. Stock investors purchased 465 call options on the company. This is an increase of 122% compared to the typical volume of 209 call options.
Shares of Kinder Morgan (NYSE KMI) opened at 19.14 on Monday. Kinder Morgan has a 12 month low of $18.23 and a 12 month high of $23.36. The company’s 50-day moving average is $19.51 and its 200-day moving average is $20.07. The firm has a market cap of $42.74 billion, a price-to-earnings ratio of 63.17 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. On average, equities research analysts forecast that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.61%. The ex-dividend date was Thursday, July 27th. Kinder Morgan’s dividend payout ratio is 161.29%.
Kinder Morgan announced that its board has approved a stock buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Director William A. Smith bought 4,903 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $20.24 per share, with a total value of $99,236.72. Following the completion of the acquisition, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.99% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Heritage Trust Co grew its position in Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 4,302 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Kinder Morgan in the second quarter worth approximately $115,000. Acrospire Investment Management LLC grew its position in Kinder Morgan by 30.7% in the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after acquiring an additional 1,600 shares in the last quarter. Parallel Advisors LLC grew its position in Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 675 shares in the last quarter. 59.15% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinder Morgan in a report on Tuesday, September 5th. Zacks Investment Research raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Stifel Nicolaus set a $25.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, August 17th. BidaskClub cut shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 target price on shares of Kinder Morgan in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.91.
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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