Kinder Morgan, Inc. (KMI) Price Target Cut to $21.00
Kinder Morgan, Inc. (NYSE:KMI) had its price target decreased by stock analysts at Citigroup Inc. from $23.00 to $21.00 in a report released on Tuesday. The firm currently has a “neutral” rating on the pipeline company’s stock. Citigroup Inc.’s target price suggests a potential upside of 13.02% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $25.00 target price on shares of Kinder Morgan in a research note on Friday, July 14th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and set a $23.00 price objective (down from $27.00) on shares of Kinder Morgan in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, October 12th. Finally, Mizuho started coverage on shares of Kinder Morgan in a research note on Thursday, July 27th. They set a “neutral” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.53.
Kinder Morgan (NYSE KMI) opened at 18.58 on Tuesday. The stock has a market cap of $41.49 billion, a P/E ratio of 61.32 and a beta of 0.65. The company’s 50-day moving average price is $19.19 and its 200-day moving average price is $19.61. Kinder Morgan has a one year low of $18.23 and a one year high of $23.01.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.21 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. Kinder Morgan’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Analysts forecast that Kinder Morgan will post $0.64 EPS for the current fiscal year.
Kinder Morgan declared that its board has authorized a share repurchase plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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In other news, Director William A. Smith acquired 4,903 shares of the business’s stock in a transaction on Monday, July 31st. The stock was bought at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the acquisition, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.99% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in KMI. Heritage Trust Co increased its stake in shares of Kinder Morgan by 457.7% during the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after purchasing an additional 4,302 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Kinder Morgan during the second quarter worth about $115,000. Acrospire Investment Management LLC increased its stake in shares of Kinder Morgan by 30.7% during the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after purchasing an additional 1,600 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Kinder Morgan by 14.0% during the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Kinder Morgan by 10.3% during the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 675 shares in the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.
Kinder Morgan Company Profile
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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