Kinder Morgan, Inc. (KMI) Rating Increased to Hold at Zacks Investment Research
Kinder Morgan, Inc. (NYSE:KMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Kinder Morgan has increased its annual dividend to 80 cents per share in 2018 that proves the company’s prudence. In Oct 2015, the company was compelled to lower its dividend from 51 cents per share to 125 cents after its midstream businesses were hurt by weakness in oil and gas prices. With a lower dividend, the company was less dependent on issuing new debt and equity, which we believe eradicates financing risk for the foreseeable future. Moreover, low natural gas prices has increased its consumption in the U.S that is beneficial for the company as it has extensive natural gas transportation facilities, which is likely to be in demand from this development. However, Kinder Morgan’s stock has underperformed the broader industry, year to date. We are also concerned about the company’s weak balance sheet and it’s financing for Trans Mountain pipeline is also under threat.”
Several other equities analysts also recently issued reports on KMI. Wells Fargo & Company reaffirmed an “outperform” rating and set a $25.00 price objective (down from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Sanford C. Bernstein initiated coverage on shares of Kinder Morgan in a research report on Tuesday, May 16th. They issued a “market perform” rating for the company. Wolfe Research cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $26.00 to $21.00 in a research report on Tuesday, May 30th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Finally, TD Securities set a $26.00 target price on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $23.91.
Shares of Kinder Morgan (NYSE KMI) remained flat at $19.01 on Tuesday. The company’s stock had a trading volume of 3,803,595 shares. The firm has a 50-day moving average price of $19.59 and a 200-day moving average price of $20.27. Kinder Morgan has a 52 week low of $18.23 and a 52 week high of $23.36. The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 62.74 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Equities analysts forecast that Kinder Morgan will post $0.65 EPS for the current fiscal year.
Kinder Morgan announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.99% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KMI. First Bank & Trust raised its position in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares during the last quarter. Heritage Trust Co raised its position in Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after buying an additional 4,302 shares during the last quarter. Fiduciary Trust Co. acquired a new position in Kinder Morgan during the second quarter valued at approximately $115,000. Trust Co. of Vermont raised its position in Kinder Morgan by 71.5% in the first quarter. Trust Co. of Vermont now owns 6,522 shares of the pipeline company’s stock valued at $142,000 after buying an additional 2,719 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after buying an additional 819 shares during the last quarter. 59.14% of the stock is owned by institutional investors and hedge funds.
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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