Kinder Morgan (NYSE:KMI) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Kinder Morgan (NYSE:KMI) from a neutral rating to a buy rating in a report released on Friday, MarketBeat Ratings reports. Bank of America currently has $27.00 price target on the pipeline company’s stock, up from their prior price target of $23.00.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a hold rating in a research report on Tuesday, August 27th. Truist Financial lifted their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a hold rating in a research report on Friday, July 26th. Scotiabank lifted their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a sector perform rating in a research report on Wednesday, July 17th. Morgan Stanley upgraded shares of Kinder Morgan from an underweight rating to an equal weight rating and set a $24.00 target price on the stock in a research report on Monday, September 16th. Finally, Barclays lifted their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an equal weight rating in a research report on Friday, September 13th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of Moderate Buy and an average price target of $23.18.

Kinder Morgan Stock Up 0.7 %

Shares of NYSE:KMI opened at $24.88 on Friday. The firm has a fifty day moving average price of $21.80 and a two-hundred day moving average price of $20.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan has a one year low of $15.91 and a one year high of $25.02. The company has a market cap of $55.22 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 3.27 and a beta of 0.93.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s payout ratio is 104.55%.

Insider Activity

In other news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,311 shares of company stock valued at $3,121,891. Corporate insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Several hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new position in Kinder Morgan in the first quarter worth about $30,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan during the second quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new position in shares of Kinder Morgan during the first quarter valued at approximately $31,000. Redmont Wealth Advisors LLC purchased a new position in shares of Kinder Morgan during the first quarter valued at approximately $31,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Kinder Morgan during the second quarter valued at approximately $31,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Company Profile

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.