Royal Bank Of Canada Forecasts Strong Price Appreciation for Kinder Morgan (NYSE:KMI) Stock

Kinder Morgan (NYSE:KMI) had its target price upped by equities research analysts at Royal Bank Of Canada from $32.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 3.43% from the stock’s current price.

Several other research analysts also recently weighed in on KMI. Morgan Stanley boosted their price target on Kinder Morgan from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Scotiabank lifted their price objective on Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday. UBS Group reiterated a “buy” rating and issued a $38.00 target price on shares of Kinder Morgan in a research note on Friday, December 12th. Truist Financial initiated coverage on Kinder Morgan in a research report on Tuesday, March 24th. They set a “hold” rating and a $38.00 target price on the stock. Finally, Barclays reissued an “overweight” rating on shares of Kinder Morgan in a research note on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $34.43.

Kinder Morgan Price Performance

Shares of KMI traded down $0.19 during trading hours on Monday, reaching $33.84. 4,350,663 shares of the company traded hands, compared to its average volume of 14,502,617. The stock has a market capitalization of $75.28 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68. The stock has a fifty day simple moving average of $31.97 and a 200 day simple moving average of $28.86. Kinder Morgan has a fifty-two week low of $23.94 and a fifty-two week high of $34.73. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts predict that Kinder Morgan will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $33.30, for a total transaction of $51,615.00. Following the completion of the sale, the vice president owned 46,393 shares of the company’s stock, valued at approximately $1,544,886.90. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Smith purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of $29.75 per share, for a total transaction of $89,250.00. Following the acquisition, the director directly owned 31,087 shares of the company’s stock, valued at $924,838.25. This trade represents a 10.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 48,048 shares of company stock worth $1,469,863. Corporate insiders own 12.73% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Institutional investors have recently bought and sold shares of the business. Board of the Pension Protection Fund purchased a new position in Kinder Morgan in the 4th quarter valued at about $27,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Kinder Morgan during the fourth quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new position in shares of Kinder Morgan in the fourth quarter worth about $28,000. Dorato Capital Management acquired a new position in shares of Kinder Morgan in the fourth quarter worth about $30,000. Finally, Basepoint Wealth LLC purchased a new position in Kinder Morgan in the fourth quarter valued at about $30,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.