Kinder Morgan Energy Partners Upgraded by Jefferson Research to “Hold” (KMP)
Kinder Morgan Energy Partners (NYSE:KMP) was upgraded by analysts at Jefferson Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, ARN reports.
KMP has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Kinder Morgan Energy Partners in a research note on Friday, January 24th. They now have a $87.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Kinder Morgan Energy Partners in a research note on Thursday, January 16th. They now have a $90.00 price target on the stock. Finally, analysts at Morgan Stanley downgraded shares of Kinder Morgan Energy Partners from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $74.33.
Kinder Morgan Energy Partners (NYSE:KMP) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.73 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the company posted $0.61 earnings per share. Kinder Morgan Energy Partners’s revenue was up 29.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend is Wednesday, January 29th. This is a boost from Kinder Morgan Energy Partners’s previous quarterly dividend of $1.35.
Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a pipeline transportation and energy storage company in North America.
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