Kinder Morgan, Inc. (KMI) Given Average Recommendation of “Buy” by Brokerages
Kinder Morgan, Inc. (NYSE:KMI) has been given an average rating of “Buy” by the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.82.
Several research analysts have issued reports on KMI shares. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada reduced their price objective on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 27th.
In other news, Director William A. Smith acquired 4,903 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the transaction, the director now directly owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.99% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its position in shares of Kinder Morgan by 47.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock valued at $6,832,000 after buying an additional 114,124 shares in the last quarter. Karpas Strategies LLC increased its position in shares of Kinder Morgan by 0.5% in the 1st quarter. Karpas Strategies LLC now owns 100,715 shares of the pipeline company’s stock valued at $2,190,000 after buying an additional 550 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at $1,078,000. Principal Financial Group Inc. increased its position in shares of Kinder Morgan by 31.1% in the 2nd quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock valued at $97,179,000 after buying an additional 1,201,722 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its position in shares of Kinder Morgan by 10.4% in the 1st quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock valued at $226,019,000 after buying an additional 976,320 shares in the last quarter. Institutional investors and hedge funds own 59.12% of the company’s stock.
Shares of Kinder Morgan (KMI) traded up 0.31% during trading on Wednesday, hitting $19.62. The stock had a trading volume of 1,256,741 shares. The stock’s 50 day moving average is $19.31 and its 200 day moving average is $19.94. Kinder Morgan has a 52 week low of $18.23 and a 52 week high of $23.36. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 64.75 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data 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 return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its board has approved a share buyback plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
About Kinder Morgan
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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