Argus Lowers Kinder Morgan (NYSE:KMI) to Hold
Argus lowered shares of Kinder Morgan (NYSE:KMI) from a buy rating to a hold rating in a research note published on Tuesday, BenzingaRatingsTable reports.
KMI has been the subject of several other research reports. Scotia Howard Weill began coverage on Kinder Morgan in a report on Tuesday, September 3rd. They set a sector perform rating and a $23.00 price target for the company. Wolfe Research raised Kinder Morgan from an underperform rating to a peer perform rating in a report on Thursday, August 22nd. BMO Capital Markets lowered Kinder Morgan from an outperform rating to a market perform rating and set a $22.00 price target for the company. in a report on Monday, July 29th. Stifel Nicolaus lowered Kinder Morgan from a buy rating to a hold rating and set a $22.00 price target for the company. in a report on Monday, June 17th. Finally, Johnson Rice began coverage on Kinder Morgan in a report on Thursday, May 30th. They set a hold rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $21.91.
Kinder Morgan stock traded up $0.04 during mid-day trading on Tuesday, reaching $20.46. 174,243 shares of the stock traded hands, compared to its average volume of 11,363,721. The stock has a market capitalization of $46.25 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 4.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.33. Kinder Morgan has a 12-month low of $14.62 and a 12-month high of $21.50. The business’s 50-day moving average is $20.29 and its 200-day moving average is $20.23.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Tuesday, July 30th. Kinder Morgan’s dividend payout ratio (DPR) is 112.36%.
In other news, insider Richard D. Kinder bought 400,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $7,980,000.00. Following the completion of the transaction, the insider now owns 241,579,496 shares of the company’s stock, valued at $4,819,510,945.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders sold 71,944 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $20.05, for a total value of $1,442,477.20. Following the completion of the sale, the vice president now owns 204,605 shares in the company, valued at $4,102,330.25. The disclosure for this sale can be found here. In the last ninety days, insiders bought 705,000 shares of company stock valued at $14,007,550. Corporate insiders own 13.95% of the company’s stock.
Several large investors have recently bought and sold shares of KMI. Vanguard Group Inc. raised its position in Kinder Morgan by 1.0% during the second quarter. Vanguard Group Inc. now owns 163,647,617 shares of the pipeline company’s stock valued at $3,416,963,000 after purchasing an additional 1,577,219 shares during the period. Clearbridge Investments LLC raised its position in Kinder Morgan by 54.6% during the first quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock valued at $583,577,000 after purchasing an additional 10,302,503 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in Kinder Morgan by 4.7% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 24,890,725 shares of the pipeline company’s stock valued at $498,063,000 after purchasing an additional 1,111,744 shares during the period. Geode Capital Management LLC raised its position in Kinder Morgan by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after purchasing an additional 1,758,792 shares during the period. Finally, Northern Trust Corp raised its position in Kinder Morgan by 4.4% during the second quarter. Northern Trust Corp now owns 23,092,598 shares of the pipeline company’s stock valued at $482,174,000 after purchasing an additional 970,639 shares during the period. Institutional investors own 61.76% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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