Kinder Morgan, Inc. (KMI) Downgraded by Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) cut shares of Kinder Morgan, Inc. (NYSE:KMI) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat reports. They currently have $22.00 price objective on the pipeline company’s stock, up from their prior price objective of $18.81.

Other analysts also recently issued reports about the company. Stifel Nicolaus restated a buy rating and issued a $25.00 target price on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. restated a strong-buy rating and issued a $23.00 target price (down from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. BidaskClub downgraded Kinder Morgan from a sell rating to a strong sell rating in a research note on Wednesday, August 16th. BMO Capital Markets set a $26.00 target price on Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 12th. Finally, Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a neutral rating and a $22.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan currently has an average rating of Buy and a consensus price target of $23.44.

Shares of Kinder Morgan (NYSE KMI) opened at 18.42 on Tuesday. Kinder Morgan has a 52 week low of $18.23 and a 52 week high of $23.01. The firm has a market capitalization of $41.14 billion, a PE ratio of 60.79 and a beta of 0.65. The company’s 50 day moving average price is $19.15 and its 200-day moving average price is $19.58.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.21 billion. Kinder Morgan had a return on equity of 4.37% and a net margin of 10.39%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. On average, equities research analysts expect that Kinder Morgan will post $0.64 EPS for the current fiscal year.

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Kinder Morgan announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.71%. Kinder Morgan’s dividend payout ratio is currently 161.29%.

In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of Kinder Morgan stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.99% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Private Harbour Investment Management & Counsel LLC grew its stake in Kinder Morgan by 0.3% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock valued at $288,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake in Kinder Morgan by 0.8% in the 1st quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after buying an additional 60 shares in the last quarter. North Star Asset Management Inc. grew its stake in Kinder Morgan by 0.6% in the 2nd quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock valued at $192,000 after buying an additional 61 shares in the last quarter. CNH Partners LLC grew its stake in Kinder Morgan by 0.4% in the 2nd quarter. CNH Partners LLC now owns 27,467 shares of the pipeline company’s stock valued at $526,000 after buying an additional 100 shares in the last quarter. Finally, Chatham Capital Group Inc. grew its stake in Kinder Morgan by 0.5% in the 1st quarter. Chatham Capital Group Inc. now owns 39,950 shares of the pipeline company’s stock valued at $869,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.

Analyst Recommendations for Kinder Morgan (NYSE:KMI)

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