Kinder Morgan (NYSE:KMI) Sets New 1-Year High Following Analyst Upgrade

Kinder Morgan, Inc. (NYSE:KMI) hit a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $27.00 to $31.00. Barclays currently has an equal weight rating on the stock. Kinder Morgan traded as high as $29.58 and last traded at $29.43, with a volume of 12100402 shares. The stock had previously closed at $29.12.

A number of other analysts have also commented on KMI. Morgan Stanley set a $26.00 target price on Kinder Morgan in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial increased their target price on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Finally, Bank of America initiated coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the sale, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 745,263 shares of company stock worth $18,578,014 in the last 90 days. Insiders own 12.81% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Several large investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP grew its holdings in Kinder Morgan by 0.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock valued at $233,050,000 after purchasing an additional 69,307 shares during the period. Barclays PLC grew its stake in shares of Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after acquiring an additional 2,334,273 shares during the period. Marshall Wace LLP increased its holdings in Kinder Morgan by 20.6% in the 2nd quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock worth $154,409,000 after acquiring an additional 1,328,082 shares during the last quarter. Bank of Montreal Can boosted its position in Kinder Morgan by 2.2% during the third quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock worth $163,116,000 after purchasing an additional 164,152 shares during the period. Finally, Duquesne Family Office LLC raised its position in shares of Kinder Morgan by 74.0% in the second quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock valued at $134,185,000 after purchasing an additional 2,872,665 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Up 0.9 %

The company has a market capitalization of $67.36 billion, a PE ratio of 26.59, a PEG ratio of 3.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The stock’s 50 day moving average is $27.61 and its 200 day moving average is $23.99.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.17 EPS for the current fiscal year.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.