Kinder Morgan Shares Gap Up on Analyst Upgrade (KMI)
Kinder Morgan (NYSE:KMI) gapped up before the market opened on Friday after Morgan Stanley raised their price target on the stock from $37.00 to $43.00, Stock Ratings News reports. The stock had previously closed at $39.45, but opened at $39.88. Kinder Morgan shares last traded at $41.01, with a volume of 25,829,623 shares.
Other equities research analysts have also recently issued reports about the stock. 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $41.70.
The stock’s 50-day moving average is $36.72 and its 200-day moving average is $34.10. The company has a market cap of $42.548 billion and a P/E ratio of 34.77. Kinder Morgan also was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 14,804,336 shares, a decline of 16.0% from the July 15th total of 17,634,105 shares. Based on an average daily volume of 5,782,620 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.3% of the company’s shares are short sold.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. 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. 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 4.31%. 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.
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.