Kinder Morgan Given New $43.00 Price Target at Morgan Stanley (KMI)
Analysts at Morgan Stanley hoisted their price objective on shares of Kinder Morgan (NYSE:KMI) from $37.00 to $43.00 in a research report issued to clients and investors on Thursday. Morgan Stanley’s price target would indicate a potential upside of 10.91% from the stock’s previous close.
Shares of Kinder Morgan (NYSE:KMI) traded up 1.81% during mid-day trading on Thursday, hitting $39.47. The stock had a trading volume of 5,419,089 shares. Kinder Morgan has a one year low of $30.81 and a one year high of $42.49. The stock has a 50-day moving average of $36.61 and a 200-day moving average of $34.0. The company has a market cap of $40.584 billion and a P/E ratio of 33.80. Kinder Morgan also was the target of unusually large options trading activity on Monday. Stock investors bought 56,556 call options on the stock. This represents an increase of 495% compared to the typical volume of 9,499 call options.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data 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 declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, July 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.42.
A number of other analysts have also recently weighed in on KMI. Analysts at Credit Suisse raised their price target on shares of Kinder Morgan from $41.00 to $49.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Kinder Morgan to $50.00 in a research note on Monday. Finally, 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. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Kinder Morgan currently has a consensus rating of “Buy” and an average target price of $41.70.
Kinder Morgan, Inc (NYSE:KMI) owns and manages a diversified portfolio of energy transportation and storage assets.
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