Kinder Morgan, Inc. (KMI) Short Interest Up 11.8% in October
Kinder Morgan, Inc. (NYSE:KMI) was the target of a large growth in short interest in October. As of October 13th, there was short interest totalling 45,905,860 shares, a growth of 11.8% from the September 29th total of 41,064,660 shares. Based on an average trading volume of 8,379,096 shares, the short-interest ratio is presently 5.5 days. Approximately 2.4% of the company’s shares are short sold.
Shares of Kinder Morgan (NYSE KMI) opened at 18.03 on Friday. Kinder Morgan has a 52-week low of $17.82 and a 52-week high of $23.01. The stock has a market cap of $40.27 billion, a PE ratio of 59.50 and a beta of 0.65. The company’s 50-day moving average is $18.99 and its 200-day moving average is $19.45.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, hitting the 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 during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the business posted ($0.10) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. Equities analysts anticipate that Kinder Morgan will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has approved a stock repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits 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 leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
A number of brokerages have commented on KMI. Stifel Nicolaus restated a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a research note on Friday, July 14th. BidaskClub downgraded shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Mizuho restated a “hold” rating and issued a $22.00 target price on shares of Kinder Morgan in a research note on Friday, October 20th. BMO Capital Markets set a $26.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, October 12th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Kinder Morgan presently has a consensus rating of “Hold” and a consensus price target of $23.03.
In related news, Director William A. Smith bought 4,903 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 13.99% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KMI. Vanguard Group Inc. grew its holdings in Kinder Morgan by 4.7% during the 1st 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 in the last quarter. Commonwealth Bank of Australia grew its holdings in Kinder Morgan by 45.9% during the 2nd 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 in the last quarter. Renaissance Technologies LLC grew its holdings in Kinder Morgan by 133.5% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kinder Morgan by 56.2% during the 1st 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 in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Kinder Morgan by 49.5% during the 1st 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 in the last quarter. Institutional investors own 59.07% of the company’s stock.
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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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