Truist Financial Boosts Kinder Morgan (NYSE:KMI) Price Target to $22.00

Kinder Morgan (NYSE:KMI) had its price objective boosted by Truist Financial from $20.00 to $22.00 in a research note published on Friday morning, Benzinga reports. They currently have a hold rating on the pipeline company’s stock.

A number of other brokerages have also recently weighed in on KMI. Scotiabank boosted their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a sector perform rating in a research report on Wednesday, July 17th. Tudor Pickering raised shares of Kinder Morgan to a strong-buy rating in a research report on Thursday, May 30th. Argus upgraded shares of Kinder Morgan from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Friday, July 19th. Wells Fargo & Company upgraded shares of Kinder Morgan from an equal weight rating to an overweight rating and lifted their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a neutral rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $22.11.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $21.29 on Friday. The stock has a market cap of $47.25 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. The company has a fifty day simple moving average of $19.99 and a 200-day simple moving average of $18.64. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $21.86. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. 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 firm earned $0.24 earnings per share. Kinder Morgan’s revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Kinder Morgan will post 1.23 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.2875 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.40%. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Insider Transactions at Kinder Morgan

In other news, 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 transaction of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now owns 25,169 shares of the company’s stock, valued at $534,841.25. The transaction was disclosed in a legal 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 stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Institutional Trading of Kinder Morgan

Institutional investors have recently added to or reduced their stakes in the stock. Trueblood Wealth Management LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at about $224,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at about $183,000. Blue Trust Inc. lifted its holdings in shares of Kinder Morgan by 52.4% in the fourth quarter. Blue Trust Inc. now owns 5,669 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,949 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Kinder Morgan by 17.1% in the fourth quarter. Global Retirement Partners LLC now owns 14,046 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 2,052 shares in the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of Kinder Morgan by 57.1% in the fourth quarter. Gradient Investments LLC now owns 2,532 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 920 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

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.