Wells Fargo & Company Forecasts Strong Price Appreciation for Kinder Morgan (NYSE:KMI) Stock

Kinder Morgan (NYSE:KMI) had its price target boosted by Wells Fargo & Company from $30.00 to $33.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the pipeline company’s stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley set a $26.00 price target on Kinder Morgan in a report on Friday, October 18th. UBS Group lifted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial upped their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.92.

Kinder Morgan Trading Down 0.9 %

Kinder Morgan stock opened at $30.50 on Thursday. Kinder Morgan has a 12 month low of $16.47 and a 12 month high of $31.48. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $27.90 and its two-hundred day simple moving average is $24.32. The company has a market capitalization of $67.77 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 4.13 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.10% and a net margin of 17.31%. As a group, equities analysts predict that Kinder Morgan will post 1.27 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 3.77%. Kinder Morgan’s dividend payout ratio (DPR) is presently 98.29%.

Insider Buying and Selling at Kinder Morgan

In other news, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, the director now owns 23,995 shares in the company, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, President Thomas A. Martin sold 19,121 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,121 shares of company stock valued at $1,497,000. Company insiders own 12.64% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

A number of hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC grew its holdings in Kinder Morgan by 9.3% during the 2nd quarter. AE Wealth Management LLC now owns 46,888 shares of the pipeline company’s stock valued at $932,000 after buying an additional 4,003 shares in the last quarter. Sei Investments Co. boosted its position in shares of Kinder Morgan by 14.6% during the second quarter. Sei Investments Co. now owns 803,815 shares of the pipeline company’s stock worth $15,973,000 after acquiring an additional 102,447 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Kinder Morgan during the second quarter valued at $2,561,000. EverSource Wealth Advisors LLC increased its holdings in Kinder Morgan by 25.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,497 shares of the pipeline company’s stock valued at $201,000 after acquiring an additional 1,931 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Kinder Morgan by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 382,549 shares of the pipeline company’s stock worth $7,601,000 after purchasing an additional 143,705 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Company Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.