Kinder Morgan Inc. (KMI) Rating Increased to Buy at Zacks Investment Research
Kinder Morgan Inc. (NYSE:KMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $25.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 14.16% from the stock’s current price.
According to Zacks, “Kinder Morgan is one of the largest midstream companies in North America. We believe that the company’s size will prove to be advantageous with opportunities to build smaller adjacent pipelines at a lower cost than peers. Going forward, Kinder Morgan’s significant investments in a number of projects should help drive growth in the coming years. We also like the company’s focus on stable, fee-based, well-diversified assets and its strong balance sheet. In particular, we expect Kinder Morgan to seize attractive investment opportunities in the Eagle Ford and Haynesville shale plays. Such positives are likely to boost future earnings as well. Consequently, we think that KMI offers substantial upside potential from the current price levels.”
Several other research firms also recently commented on KMI. Vetr raised Kinder Morgan from a “buy” rating to a “strong-buy” rating and set a $24.78 price objective for the company in a research note on Monday, September 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, June 29th. Morgan Stanley raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $24.00 in a research note on Thursday, August 18th. TheStreet raised Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Barclays PLC upped their price objective on Kinder Morgan from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, July 18th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.83.
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Shares of Kinder Morgan (NYSE:KMI) opened at 21.90 on Tuesday. The stock has a 50 day moving average price of $21.48 and a 200-day moving average price of $19.15. Kinder Morgan has a 52 week low of $11.20 and a 52 week high of $32.89. The firm has a market capitalization of $48.89 billion, a price-to-earnings ratio of 782.14 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 20th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The firm earned $3.14 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Kinder Morgan had a return on equity of 4.82% and a net margin of 1.63%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. On average, analysts anticipate that Kinder Morgan will post $0.67 EPS for the current year.
A number of large investors have recently made changes to their positions in KMI. Hudock Capital Group LLC boosted its stake in shares of Kinder Morgan by 12.0% in the second quarter. Hudock Capital Group LLC now owns 5,394 shares of the company’s stock worth $100,000 after buying an additional 576 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Kinder Morgan during the first quarter worth approximately $110,000. Huntington Asset Advisors Inc. bought a new stake in shares of Kinder Morgan during the first quarter worth approximately $111,000. Hallmark Capital Management Inc. bought a new stake in shares of Kinder Morgan during the second quarter worth approximately $157,000. Finally, PineBridge Investments L.P. boosted its stake in shares of Kinder Morgan by 465.2% in the second quarter. PineBridge Investments L.P. now owns 9,258 shares of the company’s stock worth $173,000 after buying an additional 7,620 shares during the period. Hedge funds and other institutional investors own 54.65% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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