Kinder Morgan (NYSE:KMI) Price Target Raised to $33.00

Kinder Morgan (NYSE:KMI) had its target price hoisted by Citigroup from $28.00 to $33.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price target points to a potential downside of 2.19% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Scotiabank upped their price objective on Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday. Freedom Capital raised Kinder Morgan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada lifted their target price on Kinder Morgan from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Barclays restated an “overweight” rating on shares of Kinder Morgan in a research note on Friday, February 20th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Kinder Morgan has a consensus rating of “Hold” and an average price target of $34.33.

Kinder Morgan Price Performance

NYSE KMI traded down $0.29 during trading hours on Monday, hitting $33.74. 5,009,874 shares of the company’s stock traded hands, compared to its average volume of 14,511,208. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.50. The firm’s 50-day moving average is $31.97 and its 200-day moving average is $28.86. Kinder Morgan has a 52-week low of $23.94 and a 52-week high of $34.73. The company has a market capitalization of $75.06 billion, a PE ratio of 24.64, a PEG ratio of 3.12 and a beta of 0.68.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.33 billion. Kinder Morgan had a return on equity of 9.02% and a net margin of 18.04%.The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Equities analysts forecast that Kinder Morgan will post 1.25 EPS for the current fiscal year.

Insider Activity

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $33.30, for a total transaction of $51,615.00. Following the transaction, the vice president owned 46,393 shares in the company, valued at $1,544,886.90. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Patrick Michels sold 20,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 139,428 shares of the company’s stock, valued at approximately $4,182,840. This trade represents a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,048 shares of company stock valued at $1,469,863 in the last ninety days. 12.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kinder Morgan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kinder Morgan in the fourth quarter worth $1,132,125,000. AQR Capital Management LLC boosted its stake in shares of Kinder Morgan by 431.9% during the 3rd quarter. AQR Capital Management LLC now owns 6,569,082 shares of the pipeline company’s stock valued at $185,971,000 after buying an additional 5,333,986 shares during the period. Merewether Investment Management LP acquired a new stake in shares of Kinder Morgan during the 2nd quarter valued at about $138,477,000. Zimmer Partners LP boosted its holdings in Kinder Morgan by 177.8% during the third quarter. Zimmer Partners LP now owns 6,070,100 shares of the pipeline company’s stock valued at $171,845,000 after acquiring an additional 3,885,000 shares during the period. Finally, 59 North Capital Management LP grew its position in shares of Kinder Morgan by 54.5% in the second quarter. 59 North Capital Management LP now owns 10,597,380 shares of the pipeline company’s stock valued at $311,563,000 after purchasing an additional 3,739,398 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.