Kinder Morgan (NYSE:KMI) Reaches New 1-Year High After Analyst Upgrade

Kinder Morgan, Inc. (NYSE:KMI)’s share price reached 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 trading hands. The stock had previously closed at $29.12.

KMI has been the topic of a number of other reports. Royal Bank of Canada lifted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial boosted their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group boosted their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insiders Place Their Bets

In related news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 9.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Thomas A. Martin sold 19,121 shares of Kinder Morgan stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 745,263 shares of company stock valued at $18,578,014 in the last three months. 12.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Kinder Morgan by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock valued at $101,422,000 after buying an additional 29,861 shares during the period. Global Retirement Partners LLC lifted its stake in Kinder Morgan by 3.5% during the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 776 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Kinder Morgan by 3.2% during the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock worth $50,624,000 after purchasing an additional 71,984 shares during the last quarter. Czech National Bank lifted its stake in Kinder Morgan by 6.9% during the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after purchasing an additional 25,406 shares during the last quarter. Finally, Barclays PLC lifted its stake in Kinder Morgan by 39.9% during the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

The firm has a 50 day moving average of $27.61 and a two-hundred day moving average of $23.99. The stock has a market cap 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 current ratio of 0.46 and a quick ratio of 0.35.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Research analysts predict that Kinder Morgan, Inc. will post 1.17 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.