Kinder Morgan (KMI) Price Target Cut to $23.00

Kinder Morgan (NYSE:KMI) had its price target decreased by research analysts at Morgan Stanley from $24.00 to $23.00 in a report issued on Friday. The firm currently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s price target would suggest a potential upside of 34.27% from the company’s previous close.

Several other brokerages have also recently issued reports on KMI. Royal Bank of Canada reiterated a “hold” rating and set a $22.00 target price on shares of Kinder Morgan in a report on Wednesday, November 15th. Credit Suisse Group started coverage on shares of Kinder Morgan in a report on Thursday, January 4th. They set an “outperform” rating and a $23.00 target price on the stock. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Wells Fargo & Co reissued a “market perform” rating on shares of Kinder Morgan in a research report on Thursday, January 11th. Finally, BMO Capital Markets set a $26.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.66.

Shares of Kinder Morgan (NYSE KMI) traded up $0.33 during trading on Friday, reaching $17.13. 21,426,330 shares of the company’s stock traded hands, compared to its average volume of 17,276,412. The company has a current ratio of 0.44, a quick ratio of 0.35 and a debt-to-equity ratio of 1.00. Kinder Morgan has a one year low of $16.56 and a one year high of $22.70. The company has a market cap of $37,360.00, a PE ratio of 1,675.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.56.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Kinder Morgan had a net margin of 1.34% and a return on equity of 4.38%. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the business earned $0.08 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. research analysts predict that Kinder Morgan will post 0.82 earnings per share for the current year.

In related news, Director William A. Smith acquired 5,500 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was purchased at an average cost of $19.52 per share, with a total value of $107,360.00. Following the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $284,738.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Martin acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average cost of $17.10 per share, with a total value of $51,300.00. The disclosure for this purchase can be found here. Corporate insiders own 13.99% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Kinder Morgan by 17.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 13,950,108 shares of the pipeline company’s stock valued at $267,575,000 after purchasing an additional 2,048,560 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Kinder Morgan by 11.0% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,908,625 shares of the pipeline company’s stock valued at $266,767,000 after purchasing an additional 1,373,610 shares during the last quarter. Legal & General Group Plc raised its position in shares of Kinder Morgan by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 11,314,018 shares of the pipeline company’s stock valued at $217,014,000 after purchasing an additional 636,683 shares during the last quarter. Brookfield Asset Management Inc. raised its position in shares of Kinder Morgan by 4.3% in the 2nd quarter. Brookfield Asset Management Inc. now owns 10,843,859 shares of the pipeline company’s stock valued at $207,769,000 after purchasing an additional 447,389 shares during the last quarter. Finally, Cohen & Steers Inc. raised its position in shares of Kinder Morgan by 22.7% in the 3rd quarter. Cohen & Steers Inc. now owns 9,743,540 shares of the pipeline company’s stock valued at $186,881,000 after purchasing an additional 1,801,348 shares during the last quarter. 60.57% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Kinder Morgan (NYSE:KMI)

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