Kinder Morgan, Inc. (NYSE:KMI) Coverage Initiated by Analysts at Mizuho
Mizuho started coverage on shares of Kinder Morgan, Inc. (NYSE:KMI) in a report released on Thursday, The Fly reports. The firm set a “neutral” rating on the pipeline company’s stock.
Several other equities research analysts have also issued reports on the company. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, April 20th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $25.00 target price (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Kinder Morgan presently has an average rating of “Buy” and a consensus price target of $24.03.
Kinder Morgan (KMI) opened at 20.34 on Thursday. Kinder Morgan has a 52 week low of $18.31 and a 52 week high of $23.36. The stock has a 50 day moving average of $19.28 and a 200 day moving average of $20.69. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 66.91 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts predict that Kinder Morgan will post $0.65 earnings per share for the current fiscal year.
Kinder Morgan declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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In other news, insider Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the acquisition, the insider now owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dax Sanders acquired 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average cost of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. Company insiders own 13.99% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Berkshire Hathaway Inc. bought a new position in shares of Kinder Morgan during the fourth quarter worth approximately $395,880,000. Norges Bank bought a new position in shares of Kinder Morgan during the fourth quarter worth approximately $365,669,000. Cohen & Steers Inc. boosted 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 pipeline company’s stock worth $336,051,000 after buying an additional 10,623,045 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Kinder Morgan during the fourth quarter worth approximately $164,371,000. Finally, Brookfield Asset Management Inc. boosted 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 pipeline company’s stock worth $229,896,000 after buying an additional 7,635,500 shares during the period. 57.56% of the stock is currently owned by institutional investors.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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