Kinder Morgan (NYSE:KMI) Coverage Initiated at Bank of America

Bank of America initiated coverage on shares of Kinder Morgan (NYSE:KMI) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a buy rating and a $27.00 price target on the pipeline company’s stock.

Several other analysts have also issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a research report on Monday, September 16th. Royal Bank of Canada boosted their price target on Kinder Morgan from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Wednesday. Truist Financial raised their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.09.

Kinder Morgan Price Performance

NYSE KMI opened at $24.82 on Thursday. The stock has a market capitalization of $55.09 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 3.27 and a beta of 0.93. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The business’s fifty day moving average price is $22.04 and its 200-day moving average price is $20.42.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, equities analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s payout ratio is currently 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Kinder Morgan

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Czech National Bank lifted its holdings in shares of Kinder Morgan by 6.9% in the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock valued at $8,689,000 after acquiring an additional 25,406 shares during the last quarter. LSV Asset Management bought a new position in shares of Kinder Morgan during the 1st quarter valued at approximately $8,818,000. Duality Advisers LP raised its holdings in Kinder Morgan by 42.7% during the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock valued at $5,822,000 after buying an additional 94,984 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Kinder Morgan by 221.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock worth $4,615,000 after buying an additional 173,313 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Kinder Morgan by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock worth $46,726,000 after buying an additional 144,687 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

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.