Vetr lowered shares of Kinder Morgan Inc. (NYSE:KMI) from a strong-buy rating to a buy rating in a research report report published on Thursday morning. Vetr currently has $23.96 price target on the stock.
Other research analysts also recently issued research reports about the company. Morgan Stanley set a $24.00 price target on Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Barclays PLC set a $25.00 price target on Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Goldman Sachs Group Inc. set a $24.00 price target on Kinder Morgan and gave the company a buy rating in a research note on Thursday, October 20th. Stifel Nicolaus raised Kinder Morgan from a hold rating to a buy rating and dropped their price target for the company from $25.00 to $24.00 in a research note on Thursday, October 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Kinder Morgan from a hold rating to a buy rating and set a $25.00 target price for the company in a research note on Tuesday, September 20th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $22.32.
Kinder Morgan (NYSE:KMI) opened at 20.97 on Thursday. The company’s market cap is $46.81 billion. The stock has a 50 day moving average of $21.19 and a 200 day moving average of $19.99. Kinder Morgan has a 52 week low of $11.20 and a 52 week high of $24.62.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a $0.125 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.50 annualized dividend and a yield of 2.38%. Kinder Morgan’s dividend payout ratio is currently -416.67%.
In related news, Director Fayez Sarofim bought 700,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was acquired at an average price of $21.41 per share, for a total transaction of $14,987,000.00. Following the purchase, the director now directly owns 29,142,387 shares in the company, valued at $623,938,505.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.97% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. increased its position in shares of Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock valued at $336,051,000 after buying an additional 10,623,045 shares in the last quarter. Brookfield Asset Management Inc. increased its position in shares of Kinder Morgan by 164.4% in the second quarter. Brookfield Asset Management Inc. now owns 12,280,750 shares of the company’s stock valued at $229,896,000 after buying an additional 7,635,500 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Kinder Morgan during the second quarter valued at approximately $106,291,000. CI Global Investments Inc. bought a new position in shares of Kinder Morgan during the second quarter valued at approximately $103,965,000. Finally, Commonwealth Bank of Australia increased its position in shares of Kinder Morgan by 49.0% in the third quarter. Commonwealth Bank of Australia now owns 11,453,184 shares of the company’s stock valued at $264,912,000 after buying an additional 3,766,865 shares in the last quarter. Institutional investors and hedge funds own 54.72% 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.
To view Vetr’s full report, visit Vetr’s official website.
