Kinder Morgan (NYSE:KMI) Raised to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Kinder Morgan (NYSE:KMI) from an underweight rating to an equal weight rating in a report published on Monday, MarketBeat.com reports. They currently have $24.00 price target on the pipeline company’s stock.

KMI has been the subject of several other reports. Royal Bank of Canada increased their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a sector perform rating in a research report on Tuesday, July 30th. Barclays lifted their price objective on Kinder Morgan from $21.00 to $22.00 and gave the stock an equal weight rating in a research report on Friday. Truist Financial upped their target price on Kinder Morgan from $20.00 to $22.00 and gave the company a hold rating in a research report on Friday, July 26th. UBS Group lifted their target price on Kinder Morgan from $24.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Finally, Scotiabank increased their price target on Kinder Morgan from $19.00 to $21.00 and gave the stock a sector perform rating in a report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of Hold and a consensus price target of $22.55.

Kinder Morgan Stock Up 1.6 %

Shares of NYSE:KMI opened at $21.47 on Monday. The firm has a market cap of $47.65 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.90 and a beta of 0.93. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $21.86. The business has a fifty day simple moving average of $21.04 and a 200 day simple moving average of $19.63. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the business earned $0.24 earnings per share. Kinder Morgan’s revenue was up 2.0% compared to the same quarter last year. Analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 annualized dividend and a yield of 5.36%. Kinder Morgan’s payout ratio is 104.55%.

Insider Activity

In related news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sital K. Mody sold 25,169 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock worth $3,121,891 over the last three months. 12.64% of the stock is currently owned by insiders.

Institutional Trading of Kinder Morgan

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Kinder Morgan by 3,655.3% during the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,389 shares during the last quarter. HWG Holdings LP bought a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $30,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan in the 1st quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Kinder Morgan in the first quarter valued at approximately $31,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Kinder Morgan during the first quarter valued at approximately $31,000. Institutional investors own 62.52% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.