Credit Suisse Increases Kinder Morgan Price Target to $41.00 (KMI)
Investment analysts at Credit Suisse hoisted their target price on shares of Kinder Morgan (NYSE:KMI) from $40.00 to $41.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective would indicate a potential upside of 11.38% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at S&P Equity Research reiterated a “hold” rating on shares of Kinder Morgan in a research note on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kinder Morgan in a research note on Thursday. They now have a $39.00 price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Thursday. They now have a $39.00 price target on the stock, up previously from $38.00. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kinder Morgan presently has an average rating of “Buy” and an average price target of $39.43.
Kinder Morgan (NYSE:KMI) traded down 0.27% during mid-day trading on Thursday, hitting $36.81. 10,018,848 shares of the company’s stock traded hands. Kinder Morgan has a one year low of $30.81 and a one year high of $39.74. The stock’s 50-day moving average is $35.37 and its 200-day moving average is $33.87. The company has a market cap of $37.837 billion and a price-to-earnings ratio of 32.29. Kinder Morgan also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 28,798 call options on the stock. This represents an increase of approximately 565% compared to the typical volume of 4,330 call options.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 16th. The company reported $0.27 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company posted $0.27 earnings per share. Kinder Morgan’s revenue was up 16.4% compared to the same quarter last year. On average, analysts predict that Kinder Morgan will post $1.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Tuesday, July 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.42.
Kinder Morgan, Inc (NYSE:KMI) owns and manages a diversified portfolio of energy transportation and storage assets.
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