Shares of Kinder Morgan, Inc. (NYSE:KMI) have been assigned a consensus recommendation of “Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.50.
A number of research firms have weighed in on KMI. Citigroup Inc. lowered their target price on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday. Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and increased their target price for the company from $18.81 to $22.00 in a report on Tuesday. BMO Capital Markets set a $26.00 target price on Kinder Morgan and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Kinder Morgan in a report on Tuesday, September 5th.
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Shares of Kinder Morgan (NYSE KMI) traded down 0.43% during midday trading on Friday, reaching $18.60. The company had a trading volume of 13,827,067 shares. Kinder Morgan has a 12-month low of $18.23 and a 12-month high of $23.01. The firm has a market capitalization of $41.54 billion, a price-to-earnings ratio of 61.39 and a beta of 0.65. The company has a 50 day moving average of $19.22 and a 200 day moving average of $19.66.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts anticipate that Kinder Morgan will post $0.64 EPS for the current year.
Kinder Morgan declared that its board has approved a stock repurchase program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, Director William A. Smith acquired 4,903 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were purchased 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 directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.99% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Kinder Morgan by 47.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock worth $6,832,000 after buying an additional 114,124 shares during the period. Principal Financial Group Inc. raised its stake in shares of Kinder Morgan by 31.1% in the second quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock worth $97,179,000 after buying an additional 1,201,722 shares during the period. Ballentine Partners LLC bought a new position in shares of Kinder Morgan in the second quarter worth about $1,078,000. Brookfield Asset Management Inc. raised its stake in shares of Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock worth $226,019,000 after buying an additional 976,320 shares during the period. Finally, Norinchukin Bank The raised its stake in shares of Kinder Morgan by 4.0% in the second quarter. Norinchukin Bank The now owns 232,006 shares of the pipeline company’s stock worth $4,445,000 after buying an additional 8,908 shares during the period. 59.08% of the stock is currently owned by hedge funds and other institutional investors.
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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