SunTrust Banks, Inc. Analysts Give Kinder Morgan, Inc. (KMI) a $23.00 Price Target
Kinder Morgan, Inc. (NYSE:KMI) has been given a $23.00 target price by stock analysts at SunTrust Banks, Inc. in a research report issued on Thursday. The brokerage currently has a “buy” rating on the pipeline company’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 24.86% from the company’s previous close.
Several other brokerages also recently commented on KMI. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets restated a “buy” rating and set a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Mizuho initiated coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.44.
Kinder Morgan (NYSE KMI) traded down 1.23% on Thursday, hitting $18.42. 10,159,715 shares of the stock traded hands. Kinder Morgan has a 52-week low of $18.23 and a 52-week high of $23.01. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of 59.42 and a beta of 0.65. The company’s 50 day moving average price is $19.15 and its 200-day moving average price is $19.58.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.37%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. On average, analysts forecast that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan declared that its board has approved a share repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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In other news, Director William A. Smith purchased 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.99% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in KMI. Vanguard Group Inc. boosted its stake in shares of Kinder Morgan by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after purchasing an additional 6,222,962 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Kinder Morgan by 45.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after purchasing an additional 6,205,165 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Kinder Morgan by 133.5% during the 2nd quarter. Renaissance Technologies LLC now owns 8,210,372 shares of the pipeline company’s stock worth $157,311,000 after purchasing an additional 4,694,441 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Kinder Morgan by 56.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after purchasing an additional 3,483,039 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Kinder Morgan by 49.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 10,086,045 shares of the pipeline company’s stock worth $219,271,000 after purchasing an additional 3,340,309 shares during the period. 59.08% of the stock is owned by hedge funds and other 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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