Kinder Morgan (NYSE:KMI) Price Target Raised to $35.00

Kinder Morgan (NYSE:KMI) had its price target lifted by Morgan Stanley from $34.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the pipeline company’s stock.

Several other equities analysts also recently weighed in on the company. TD Cowen started coverage on Kinder Morgan in a research report on Monday, July 7th. They issued a “buy” rating and a $34.00 target price on the stock. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Cowen started coverage on Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lifted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Kinder Morgan Stock Performance

NYSE KMI opened at $28.50 on Wednesday. The company has a market cap of $63.32 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78. The stock’s 50 day simple moving average is $27.27 and its 200-day simple moving average is $27.47. Kinder Morgan has a 1-year low of $23.06 and a 1-year high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities research analysts anticipate that Kinder Morgan will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.2925 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.1%. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares of the company’s stock, valued at $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dax Sanders sold 30,127 shares of Kinder Morgan stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president directly owned 292,000 shares of the company’s stock, valued at $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,008 shares of company stock valued at $3,553,982 over the last 90 days. Corporate insiders own 12.73% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

A number of institutional investors have recently modified their holdings of KMI. Brighton Jones LLC acquired a new position in Kinder Morgan during the 4th quarter worth $308,000. GAMMA Investing LLC grew its stake in Kinder Morgan by 3,019.2% during the 1st quarter. GAMMA Investing LLC now owns 1,003,857 shares of the pipeline company’s stock worth $28,640,000 after purchasing an additional 971,674 shares in the last quarter. NBC Securities Inc. grew its stake in Kinder Morgan by 104,636.4% during the 1st quarter. NBC Securities Inc. now owns 23,042 shares of the pipeline company’s stock worth $657,000 after purchasing an additional 23,020 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Kinder Morgan by 207.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 4,730 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 3,190 shares in the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of Kinder Morgan by 10.5% during the 1st quarter. Merit Financial Group LLC now owns 71,814 shares of the pipeline company’s stock worth $2,049,000 after acquiring an additional 6,830 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

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.