Kinder Morgan (NYSE:KMI) Price Target Raised to $21.00

Kinder Morgan (NYSE:KMI) had its price target increased by Scotiabank from $19.00 to $21.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the pipeline company’s stock.

Several other analysts have also issued reports on the company. Tudor Pickering upgraded Kinder Morgan to a strong-buy rating in a report on Thursday, May 30th. Wells Fargo & Company upgraded Kinder Morgan from an equal weight rating to an overweight rating and lifted their price target for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group increased their price objective on Kinder Morgan from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Finally, Truist Financial reiterated a hold rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kinder Morgan presently has an average rating of Moderate Buy and an average target price of $21.63.

Kinder Morgan Stock Up 2.1 %

NYSE:KMI opened at $21.49 on Wednesday. Kinder Morgan has a 1-year low of $15.89 and a 1-year high of $21.79. The firm has a market capitalization of $47.69 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.25 and a beta of 0.93. The company has a current ratio of 0.37, a quick ratio of 0.38 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $19.77 and its 200 day moving average price is $18.49.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the company earned $0.24 earnings per share. Kinder Morgan’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that Kinder Morgan will post 1.21 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 approximately $5,116,612.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction dated 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 owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated 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 owns 259,069 shares in the company, valued at $5,116,612.75. The disclosure for this sale can be found here. 12.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Kinder Morgan by 21.2% during the third quarter. American Century Companies Inc. now owns 282,404 shares of the pipeline company’s stock worth $4,682,000 after acquiring an additional 49,395 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Kinder Morgan by 14.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 12,953 shares of the pipeline company’s stock valued at $233,000 after purchasing an additional 1,647 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Kinder Morgan by 2.8% in the fourth quarter. Raymond James Trust N.A. now owns 72,600 shares of the pipeline company’s stock worth $1,281,000 after purchasing an additional 2,000 shares during the period. Naples Global Advisors LLC boosted its position in shares of Kinder Morgan by 8.5% during the fourth quarter. Naples Global Advisors LLC now owns 65,730 shares of the pipeline company’s stock worth $1,159,000 after purchasing an additional 5,175 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its holdings in shares of Kinder Morgan by 0.8% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 173,152 shares of the pipeline company’s stock valued at $3,125,000 after buying an additional 1,357 shares during the period. 62.52% of the stock is owned by institutional investors.

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.