Kinder Morgan Inc. (KMI) Stock Price Down 4.3%
Kinder Morgan Inc. (NYSE:KMI) shares dropped 4.3% during trading on Thursday . The company traded as low as $21.08 and last traded at $21.13, with a volume of 17,848,316 shares. The stock had previously closed at $22.09.
KMI has been the topic of a number of research analyst reports. Simmons initiated coverage on Kinder Morgan in a report on Friday, April 1st. They set a “neutral” rating and a $18.00 target price on the stock. Vetr downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $18.82 price target on the stock. in a report on Tuesday, June 21st. Deutsche Bank AG reissued a “buy” rating on shares of Kinder Morgan in a report on Wednesday, June 29th. Sanford C. Bernstein assumed coverage on Kinder Morgan in a report on Wednesday, May 11th. They issued a “market perform” rating and a $20.00 price target on the stock. Finally, Bank of America Corp. reissued a “neutral” rating and issued a $18.74 price target (down previously from $19.00) on shares of Kinder Morgan in a report on Thursday, April 21st. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Kinder Morgan presently has an average rating of “Hold” and an average price target of $21.64.
The stock has a 50-day moving average price of $18.94 and a 200 day moving average price of $17.44. The company has a market cap of $47.35 billion and a price-to-earnings ratio of 785.93.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.45 billion. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. On average, equities analysts anticipate that Kinder Morgan Inc. will post $0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, July 28th.
Other hedge funds and institutional investors have made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Kinder Morgan by 7.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 247,279 shares of the company’s stock valued at $3,689,000 after buying an additional 17,057 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in shares of Kinder Morgan by 10.4% in the fourth quarter. Cypress Asset Management Inc. TX now owns 210,073 shares of the company’s stock valued at $3,134,000 after buying an additional 19,770 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Kinder Morgan by 7.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 543,141 shares of the company’s stock valued at $16,159,000 after buying an additional 38,675 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Kinder Morgan by 18.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 563,992 shares of the company’s stock valued at $8,414,000 after buying an additional 85,838 shares during the last quarter. Finally, Deimos Asset Management LLC acquired a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $1,044,000.
Kinder Morgan, Inc (KMI) is an energy infrastructure and energy company in North America. The Company operates through six segments: Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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