Kinder Morgan Inc. (KMI) Downgraded by Wolfe Research to “Buy”
A number of other research analysts have also commented on KMI. Morgan Stanley set a $24.00 price objective on shares of Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Goldman Sachs Group Inc. set a $24.00 price objective on shares of Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Barclays PLC set a $25.00 price objective on shares of Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Credit Suisse Group AG upgraded shares of Kinder Morgan from a neutral rating to an outperform rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Thursday, October 20th. Finally, Raymond James Financial Inc. upgraded shares of Kinder Morgan from an outperform rating to a strong-buy rating and raised their price objective for the company from $23.00 to $27.00 in a research note on Monday, October 24th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $22.32.
Shares of Kinder Morgan (NYSE:KMI) traded down 0.18% on Tuesday, hitting $21.85. The company’s stock had a trading volume of 3,003,281 shares. The stock’s 50 day moving average is $21.02 and its 200-day moving average is $20.23. Kinder Morgan has a 52 week low of $11.20 and a 52 week high of $24.62. The company’s market cap is $48.78 billion.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 19th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.25. Kinder Morgan had a negative net margin of 1.13% and a positive return on equity of 4.69%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the business earned $0.08 EPS. Kinder Morgan’s revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kinder Morgan will post $0.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a dividend of $0.125 per share. The ex-dividend date was Friday, October 28th. This represents a $0.50 annualized dividend and a dividend yield of 2.28%. Kinder Morgan’s payout ratio is -416.67%.
In related news, Director Fayez Sarofim acquired 700,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were bought at an average price of $21.41 per share, for a total transaction of $14,987,000.00. Following the acquisition, the director now owns 29,142,387 shares in the company, valued at approximately $623,938,505.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.97% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. A.R.T. Advisors LLC bought a new position in Kinder Morgan during the first quarter valued at about $1,178,000. Phocas Financial Corp. bought a new position in Kinder Morgan during the first quarter valued at about $6,736,000. BlueMountain Capital Management LLC increased its position in Kinder Morgan by 116.3% in the first quarter. BlueMountain Capital Management LLC now owns 29,524 shares of the company’s stock valued at $527,000 after buying an additional 15,873 shares during the last quarter. Cullinan Associates Inc. bought a new position in Kinder Morgan during the second quarter valued at about $212,000. Finally, Private Asset Management Inc. boosted its stake in Kinder Morgan by 5.3% in the second quarter. Private Asset Management Inc. now owns 506,113 shares of the company’s stock worth $9,474,000 after buying an additional 25,667 shares during the last quarter. Institutional investors own 54.99% of the company’s stock.
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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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