Kinder Morgan (NYSE:KMI) Price Target Raised to $31.00
by Mitch Edgeman · The Markets DailyKinder Morgan (NYSE:KMI – Free Report) had its price target increased by Scotiabank from $30.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the pipeline company’s stock.
Other research analysts have also issued reports about the stock. Barclays reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Thursday, January 22nd. Mizuho boosted their target price on Kinder Morgan from $31.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Royal Bank Of Canada increased their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, February 27th. Finally, Wells Fargo & Company raised their price target on Kinder Morgan from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.46.
Read Our Latest Research Report on KMI
Kinder Morgan Price Performance
Kinder Morgan stock opened at $33.42 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.50. The business has a 50 day simple moving average of $31.20 and a 200-day simple moving average of $28.54. Kinder Morgan has a 12 month low of $23.94 and a 12 month high of $34.24. The stock has a market capitalization of $74.35 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.68.
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. Kinder Morgan’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Equities analysts predict that Kinder Morgan will post 1.25 earnings per share for the current year.
Kinder Morgan Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, February 2nd. Kinder Morgan’s dividend payout ratio is presently 85.40%.
Insider Activity at Kinder Morgan
In other news, Director William A. Smith acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of $29.75 per share, with a total value of $89,250.00. Following the purchase, the director directly owned 31,087 shares of the company’s stock, valued at approximately $924,838.25. This trade represents a 10.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 139,428 shares of the company’s stock, valued at approximately $4,182,840. This represents a 12.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,048 shares of company stock worth $1,469,863. 12.73% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Board of the Pension Protection Fund acquired a new stake in Kinder Morgan in the 4th quarter valued at about $27,000. Commonwealth Retirement Investments LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $28,000. Dorato Capital Management purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at about $30,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.