Kinder Morgan Inc. (KMI) Upgraded 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 report issued on Tuesday. The firm currently has a $25.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 14.16% from the stock’s previous close.
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 analysts have also weighed in on the company. Vetr lowered Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $24.07 price target on the stock. in a research report on Monday. Morgan Stanley raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $24.00 in a research report on Thursday, August 18th. Credit Suisse Group AG set a $23.00 price target on Kinder Morgan and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Jefferies Group reaffirmed a “hold” rating and set a $17.00 price target on shares of Kinder Morgan in a research report on Thursday, July 21st. Finally, Barclays PLC boosted their price target on Kinder Morgan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Kinder Morgan currently has an average rating of “Hold” and a consensus target price of $20.83.
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Kinder Morgan (NYSE:KMI) opened at 21.90 on Tuesday. The firm’s 50-day moving average price is $21.48 and its 200 day moving average price is $19.15. 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 has a 1-year low of $11.20 and a 1-year high of $32.89.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.45 billion. Kinder Morgan had a return on equity of 4.82% and a net margin of 1.63%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, analysts predict that Kinder Morgan will post $0.67 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. increased its stake in Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock worth $336,051,000 after buying an additional 10,623,045 shares during the last quarter. Brookfield Asset Management Inc. increased its stake in Kinder Morgan by 164.4% in the second quarter. Brookfield Asset Management Inc. now owns 12,280,750 shares of the company’s stock worth $229,896,000 after buying an additional 7,635,500 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Kinder Morgan during the second quarter worth $106,291,000. CI Global Investments Inc. bought a new stake in Kinder Morgan during the second quarter worth $103,965,000. Finally, Prudential Financial Inc. increased its stake in Kinder Morgan by 89.8% in the first quarter. Prudential Financial Inc. now owns 6,342,027 shares of the company’s stock worth $113,269,000 after buying an additional 3,001,190 shares during the last quarter. Hedge funds and other institutional investors own 54.65% of the company’s stock.
About Kinder Morgan
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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