Kinder Morgan (NYSE:KMI) Reaches New 12-Month High After Analyst Upgrade

Kinder Morgan, Inc. (NYSE:KMI) hit a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from $19.00 to $21.00. Scotiabank currently has a sector perform rating on the stock. Kinder Morgan traded as high as $20.56 and last traded at $20.51, with a volume of 13913072 shares traded. The stock had previously closed at $20.24.

Several other research firms have also recently commented on KMI. Truist Financial restated a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. UBS Group increased their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. Finally, Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the sale, the director now directly owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its stake in shares of Kinder Morgan by 3,655.3% in the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after buying an additional 1,389 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Kinder Morgan in the 4th quarter worth $26,000. Activest Wealth Management acquired a new position in Kinder Morgan during the 4th quarter worth $30,000. Pathway Financial Advisers LLC acquired a new position in Kinder Morgan during the 1st quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in Kinder Morgan during the first quarter valued at about $31,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Trading Up 1.4 %

The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $45.55 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 3.18 and a beta of 0.93. The company has a 50-day moving average price of $19.65 and a 200-day moving average price of $18.43.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Company Profile

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.