Kinder Morgan (NYSE:KMI) Price Target Raised to $37.00
by Michael Walen · The Markets DailyKinder Morgan (NYSE:KMI – Free Report) had its price target boosted by JPMorgan Chase & Co. from $36.00 to $37.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the pipeline company’s stock.
Several other research analysts have also issued reports on KMI. Melius Research initiated coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $38.00 target price for the company. Stifel Nicolaus initiated coverage on Kinder Morgan in a research note on Wednesday, September 9th. They issued a “hold” rating and a $35.00 target price on the stock. Argus raised their price target on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley upped their price objective on Kinder Morgan from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.15.
View Our Latest Stock Analysis on KMI
Kinder Morgan Trading Down 4.1%
Shares of Kinder Morgan stock opened at $31.53 on Monday. Kinder Morgan has a 1 year low of $25.66 and a 1 year high of $34.81. The firm has a market cap of $70.23 billion, a PE ratio of 19.46, a PEG ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55. The company has a 50 day simple moving average of $32.15 and a two-hundred day simple moving average of $32.10.
Kinder Morgan (NYSE:KMI – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Analysts expect that Kinder Morgan will post 1.57 earnings per share for the current fiscal year.
Kinder Morgan Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.2975 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. Kinder Morgan’s dividend payout ratio is 73.46%.
Insider Activity at Kinder Morgan
In related news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction on Friday, October 16th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the transaction, the vice president owned 47,313 shares in the company, valued at $1,592,082.45. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.72% of the company’s stock.
Institutional Trading of Kinder Morgan
Institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. boosted its holdings in Kinder Morgan by 4,166.7% in the second quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 750 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of Kinder Morgan by 72.9% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock valued at $25,000 after buying an additional 328 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Kinder Morgan during the 1st quarter valued at about $28,000. Bell Investment Advisors Inc lifted its holdings in shares of Kinder Morgan by 112.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 946 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares during the period. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of Kinder Morgan in the second quarter worth about $32,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.
About Kinder Morgan
Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.
The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.
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