Kinder Morgan Stock Price Up 10.9% After Analyst Upgrade (KMI)
Kinder Morgan (NYSE:KMI) shares rose 10.9% during mid-day trading on Monday after Goldman Sachs raised their price target on the stock to $50.00, Analyst Ratings.Net reports. The company traded as high as $42.49 and last traded at $40.05, with a volume of 93,667,736 shares traded. The stock had previously closed at $36.12.
Several other analysts have also recently commented on the stock. Analysts at Bank of America upgraded shares of Kinder Morgan from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $47.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Kinder Morgan in a research note on Thursday. They now have a $36.00 price target on the stock, up previously from $34.00. Finally, analysts at RBC Capital raised their price target on shares of Kinder Morgan from $39.00 to $40.00 in a research note on Tuesday, July 22nd. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Kinder Morgan currently has a consensus rating of “Buy” and an average price target of $40.67.
The stock has a 50-day moving average of $36.36 and a 200-day moving average of $34.01. The company has a market cap of $41.252 billion and a price-to-earnings ratio of 31.49.
Kinder Morgan (NYSE:KMI) last posted its quarterly 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 $1.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders 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 4.76%. The ex-dividend date is Tuesday, July 29th. This is a boost 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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