Kinder Morgan Inc. (KMI) Downgraded by BMO Capital Markets to Buy
KMI has been the subject of several other reports. Wolfe Research initiated coverage on Kinder Morgan in a research note on Friday, October 7th. They set a hold rating and a $24.00 target price for the company. Zacks Investment Research raised shares of Kinder Morgan from a hold rating to a buy rating and set a $25.00 price target on the stock in a research report on Tuesday, September 20th. SunTrust Banks Inc. reaffirmed a buy rating on shares of Kinder Morgan in a research report on Sunday, October 23rd. Vetr raised shares of Kinder Morgan from a hold rating to a buy rating and set a $22.41 price target on the stock in a research report on Thursday, August 25th. Finally, Raymond James Financial Inc. raised shares of Kinder Morgan from an outperform rating to a strong-buy rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Monday, October 24th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $22.32.
Kinder Morgan (NYSE:KMI) traded down 0.18% during trading on Tuesday, reaching $21.85. The company’s stock had a trading volume of 3,003,281 shares. The stock’s market capitalization is $48.78 billion. Kinder Morgan has a 52 week low of $11.20 and a 52 week high of $24.62. The firm has a 50 day moving average of $21.02 and a 200 day moving average of $20.23.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.25. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.47 billion. Kinder Morgan had a negative net margin of 1.13% and a positive return on equity of 4.69%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. Analysts expect that Kinder Morgan will post $0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were given a $0.125 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.50 annualized dividend and a yield of 2.28%. Kinder Morgan’s dividend payout ratio (DPR) is -416.67%.
In other Kinder Morgan news, Director Fayez Sarofim purchased 700,000 shares of the firm’s stock in a transaction on Monday, October 24th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $14,987,000.00. Following the completion of the transaction, the director now owns 29,142,387 shares in the company, valued at approximately $623,938,505.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.97% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. raised its position in Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock valued at $336,051,000 after buying an additional 10,623,045 shares during the period. Brookfield Asset Management Inc. raised its position in Kinder Morgan by 164.4% in the second quarter. Brookfield Asset Management Inc. now owns 12,280,750 shares of the company’s stock valued at $229,896,000 after buying an additional 7,635,500 shares during the period. Emerald Acquisition Ltd. acquired a new position in Kinder Morgan during the second quarter valued at about $106,291,000. CI Global Investments Inc. acquired a new position in Kinder Morgan during the second quarter valued at about $103,965,000. Finally, Commonwealth Bank of Australia raised its position in Kinder Morgan by 49.0% in the third quarter. Commonwealth Bank of Australia now owns 11,453,184 shares of the company’s stock valued at $264,912,000 after buying an additional 3,766,865 shares during the period. Hedge funds and other institutional investors own 54.99% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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