Credit Suisse Increases Kinder Morgan Energy Partners Price Target to $92.00 (KMP)
Credit Suisse hoisted their target price on shares of Kinder Morgan Energy Partners (NYSE:KMP) from $90.00 to $92.00 in a research note issued on Thursday. Credit Suisse’s price objective suggests a potential upside of 11.62% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Kinder Morgan Energy Partners in a research note on Thursday. They now have a $89.00 price target on the stock, up previously from $88.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Kinder Morgan Energy Partners in a research note on Tuesday. They now have a $79.00 price target on the stock, up previously from $78.50. Finally, analysts at Goldman Sachs upgraded shares of Kinder Morgan Energy Partners to a “conviction buy list” rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.67.
Kinder Morgan Energy Partners (NYSE:KMP) traded up 0.09% during mid-day trading on Thursday, hitting $82.42. 1,768,017 shares of the company’s stock traded hands. Kinder Morgan Energy Partners has a 52 week low of $71.32 and a 52 week high of $87.50. The stock’s 50-day moving average is $79.95 and its 200-day moving average is $77.84. The company has a market cap of $37.408 billion and a P/E ratio of 23.83.
Kinder Morgan Energy Partners (NYSE:KMP) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.43 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.54 by $0.11. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the company posted $0.49 earnings per share. Kinder Morgan Energy Partners’s revenue was up 18.6% compared to the same quarter last year. On average, analysts predict that Kinder Morgan Energy Partners will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Tuesday, July 29th. This is an increase from Kinder Morgan Energy Partners’s previous quarterly dividend of $1.38.
Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a pipeline transportation and energy storage company in North America.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.