Kinder Morgan (NYSE:KMI) Stock Price Crosses Below 200-Day Moving Average Following Analyst Downgrade

Kinder Morgan, Inc. (NYSE:KMI)’s share price passed below its 200-day moving average during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $40.00 to $39.00. The stock has a 200-day moving average of $32.10 and traded as low as $31.14. Morgan Stanley currently has an equal weight rating on the stock. Kinder Morgan shares last traded at $31.5260, with a volume of 21,489,182 shares trading hands.

KMI has been the topic of several other research reports. Capital One Financial initiated coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 price target on the stock. Weiss Ratings raised Kinder Morgan from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. Argus upped their target price on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Jefferies Financial Group lifted their price objective on shares of Kinder Morgan from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, October 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Tuesday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.15.

Insider Buying and Selling

In other Kinder Morgan news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the completion of the sale, the vice president owned 47,313 shares in the company, valued at $1,592,082.45. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board acquired a new position in shares of Kinder Morgan during the second quarter worth $239,397,000. State Street Corp boosted its position in shares of Kinder Morgan by 4.3% during the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock worth $4,183,704,000 after buying an additional 5,361,578 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Kinder Morgan by 220.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,915,696 shares of the pipeline company’s stock worth $125,185,000 after buying an additional 2,695,654 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Kinder Morgan by 253.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,994,968 shares of the pipeline company’s stock valued at $100,421,000 after buying an additional 2,146,573 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after buying an additional 1,875,143 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

The firm has a market cap of $70.23 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55. The stock’s fifty day moving average price is $32.15 and its 200-day moving average price is $32.10.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. Equities research analysts predict that Kinder Morgan, Inc. will post 1.57 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 2nd. Kinder Morgan’s payout ratio is currently 73.46%.

About Kinder Morgan

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.