Kinder Morgan Upgraded to Conviction-Buy at Goldman Sachs (KMI)
Kinder Morgan (NYSE:KMI) was upgraded by investment analysts at Goldman Sachs from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
In other Kinder Morgan news, CEO Richard Kinder bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average cost of $32.36 per share, for a total transaction of $3,236,000.00. Following the acquisition, the chief executive officer now directly owns 231,987,275 shares in the company, valued at approximately $7,507,108,219. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
KMI has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Kinder Morgan in a research note on Wednesday, April 23rd. They now have a $35.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Kinder Morgan to $40.00 in a research note on Thursday, April 17th. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Thursday, April 17th. They now have a $38.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Kinder Morgan currently has a consensus rating of “Buy” and an average target price of $37.33.
Kinder Morgan (NYSE:KMI) opened at 33.17 on Thursday. Kinder Morgan has a 52 week low of $30.81 and a 52 week high of $41.49. The stock has a 50-day moving average of $32.77 and a 200-day moving average of $33.79. The company has a market cap of $34.096 billion and a P/E ratio of 28.38.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.06. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.86 billion. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, analysts predict that Kinder Morgan will post $1.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 16th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, April 28th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.41.
Kinder Morgan, Inc (NYSE:KMI) owns and manages a diversified portfolio of energy transportation and storage assets.
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