Several other research firms have also recently issued reports on KMI. Credit Suisse Group set a $27.00 price target on Kinder Morgan and gave the company a buy rating in a report on Thursday, April 20th. Zacks Investment Research cut Kinder Morgan from a hold rating to a sell rating in a report on Tuesday, July 11th. Wells Fargo & Company reaffirmed an outperform rating and issued a $25.00 price target (down previously from $26.50) on shares of Kinder Morgan in a report on Monday, May 15th. Morgan Stanley reaffirmed an overweight rating and issued a $25.00 price target on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the company a buy rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $23.91.
Kinder Morgan (KMI) traded up 0.82% during trading on Friday, reaching $18.55. The company had a trading volume of 11,593,869 shares. Kinder Morgan has a 52-week low of $18.23 and a 52-week high of $23.36. The company has a 50-day moving average of $19.65 and a 200-day moving average of $20.40. The firm has a market capitalization of $41.43 billion, a P/E ratio of 61.22 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Analysts expect that Kinder Morgan will post $0.64 EPS for the current fiscal year.
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Kinder Morgan declared that its board has authorized a share buyback 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
In related news, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the purchase, the insider now owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $20.24 per share, for a total transaction 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 approximately $295,240.88. The disclosure for this purchase can be found here. Insiders bought 507,503 shares of company stock worth $9,437,597 over the last ninety days. 13.99% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Moody Lynn & Lieberson LLC boosted its stake in shares of Kinder Morgan by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock worth $403,000 after buying an additional 50 shares in the last quarter. Private Harbour Investment Management & Counsel LLC boosted its stake in shares of Kinder Morgan by 0.3% in the second quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after buying an additional 60 shares in the last quarter. North Star Asset Management Inc. boosted its stake in shares of Kinder Morgan by 0.6% in the second quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock worth $192,000 after buying an additional 61 shares in the last quarter. Finally, Sippican Capital Advisors boosted its stake in shares of Kinder Morgan by 0.7% in the first quarter. Sippican Capital Advisors now owns 11,165 shares of the pipeline company’s stock worth $243,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 57.40% of the company’s stock.
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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