Stifel Nicolaus Cuts Kinder Morgan, Inc. (KMI) Price Target to $22.00
Kinder Morgan, Inc. (NYSE:KMI) had its price target lowered by investment analysts at Stifel Nicolaus from $25.00 to $22.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 21.41% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Mizuho reiterated a “hold” rating and issued a $22.00 price target on shares of Kinder Morgan in a research note on Friday. SunTrust Banks, Inc. set a $23.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, October 19th. Citigroup Inc. dropped their price target on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. Zacks Investment Research cut Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Goldman Sachs Group, Inc. (The) cut Kinder Morgan from a “buy” rating to a “neutral” rating and increased their price target for the company from $18.81 to $22.00 in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.26.
Shares of Kinder Morgan (NYSE:KMI) opened at 18.12 on Tuesday. The stock has a 50 day moving average price of $19.12 and a 200 day moving average price of $19.52. The firm has a market capitalization of $40.47 billion, a PE ratio of 59.80 and a beta of 0.65. Kinder Morgan has a 1-year low of $18.04 and a 1-year high of $23.01.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.37% and a net margin of 10.39%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the company earned ($0.10) EPS. Kinder Morgan’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has authorized a share buyback program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the acquisition, the director now owns 14,587 shares in the company, valued at approximately $295,240.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.99% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Moody Lynn & Lieberson LLC grew its holdings in Kinder Morgan by 0.3% during the 1st quarter. Moody Lynn & Lieberson LLC now owns 18,529 shares of the pipeline company’s stock worth $403,000 after acquiring an additional 50 shares during the period. Private Harbour Investment Management & Counsel LLC grew its holdings in Kinder Morgan by 0.3% during the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 50 shares during the period. Guardian Life Insurance Co. of America grew its holdings in Kinder Morgan by 0.8% during the 1st quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after acquiring an additional 60 shares during the period. North Star Asset Management Inc. grew its holdings in Kinder Morgan by 0.6% during the 2nd quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 61 shares during the period. Finally, First Personal Financial Services grew its holdings in Kinder Morgan by 0.4% during the 3rd quarter. First Personal Financial Services now owns 18,704 shares of the pipeline company’s stock worth $433,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 59.07% of the company’s stock.
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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