Bank of America Initiates Coverage on Kinder Morgan (NYSE:KMI)

Investment analysts at Bank of America initiated coverage on shares of Kinder Morgan (NYSE:KMI) in a report released on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $27.00 price target on the pipeline company’s stock. Bank of America‘s price target would suggest a potential upside of 8.30% from the stock’s current price.

Several other analysts also recently issued reports on KMI. Scotiabank raised their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Barclays raised their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. UBS Group raised their price objective on shares of Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley raised shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective for the company in a research note on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $23.36.

Kinder Morgan Stock Up 0.7 %

Shares of NYSE:KMI opened at $24.93 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan has a 12 month low of $15.91 and a 12 month high of $25.06. The company has a 50-day moving average price of $21.96 and a 200 day moving average price of $20.39. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Insider Transactions at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kinder Morgan

Several institutional investors and hedge funds have recently bought and sold shares of the company. SignalPoint Asset Management LLC grew its holdings in Kinder Morgan by 1.5% in the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after purchasing an additional 447 shares during the last quarter. Trust Co. of Oklahoma grew its holdings in Kinder Morgan by 1.5% in the third quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 486 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Kinder Morgan by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after purchasing an additional 530 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Kinder Morgan by 1.4% during the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after buying an additional 545 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kinder Morgan by 4.4% during the second quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock worth $267,000 after buying an additional 566 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

About Kinder Morgan

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.