Kinder Morgan Inc. (KMI) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Kinder Morgan Inc. (NYSE:KMI) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $25.00 price objective on the stock.
According to Zacks, “Kinder Morgan is one of the largest midstream companies in North America. We believe that the company’s size will prove to be advantageous with opportunities to build smaller adjacent pipelines at a lower cost than peers. Going forward, Kinder Morgan’s significant investments in a number of projects should help drive growth in the coming years. We also like the company’s focus on stable, fee-based, well-diversified assets and its strong balance sheet. In particular, we expect Kinder Morgan to seize attractive investment opportunities in the Eagle Ford and Haynesville shale plays. Such positives are likely to boost future earnings as well. Consequently, we think that KMI offers substantial upside potential from the current price levels.”
Several other research firms also recently issued reports on KMI. Vetr downgraded shares of Kinder Morgan from a buy rating to a hold rating and set a $19.13 price objective on the stock. in a report on Wednesday, June 29th. Credit Suisse Group AG restated a hold rating on shares of Kinder Morgan in a report on Tuesday, July 12th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.83.
Kinder Morgan (NYSE:KMI) opened at 21.88 on Tuesday. Kinder Morgan has a one year low of $11.20 and a one year high of $32.89. The stock has a market cap of $48.84 billion, a P/E ratio of 781.43 and a beta of 0.63. The firm’s 50-day moving average is $21.55 and its 200 day moving average is $19.18.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 20th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business earned $3.14 billion during the quarter, compared to the consensus estimate of $3.45 billion. Kinder Morgan had a net margin of 1.63% and a return on equity of 4.82%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, analysts anticipate that Kinder Morgan will post $0.67 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stockman Asset Management raised its position in shares of Kinder Morgan by 0.5% in the first quarter. Stockman Asset Management now owns 14,525 shares of the company’s stock worth $259,000 after buying an additional 76 shares during the period. Fairfield Bush & CO. increased its position in Kinder Morgan by 0.3% in the second quarter. Fairfield Bush & CO. now owns 31,950 shares of the company’s stock valued at $598,000 after buying an additional 80 shares in the last quarter. Terra Nova Asset Management LLC increased its position in Kinder Morgan by 1.1% in the first quarter. Terra Nova Asset Management LLC now owns 14,300 shares of the company’s stock valued at $255,000 after buying an additional 150 shares in the last quarter. Ngam Advisors L.P. increased its position in Kinder Morgan by 0.7% in the second quarter. Ngam Advisors L.P. now owns 27,744 shares of the company’s stock valued at $519,000 after buying an additional 184 shares in the last quarter. Finally, CapWealth Advisors LLC increased its position in Kinder Morgan by 1.5% in the second quarter. CapWealth Advisors LLC now owns 16,134 shares of the company’s stock valued at $302,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 54.61% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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