Kinder Morgan (NYSE:KMI) PT Raised to $26.00 at Royal Bank of Canada

Kinder Morgan (NYSE:KMI) had its price target increased by Royal Bank of Canada from $24.00 to $26.00 in a report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the pipeline company’s stock.

Several other research firms have also issued reports on KMI. Truist Financial boosted their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Bank of America started coverage on Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Wells Fargo & Company increased their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays lifted their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, Scotiabank increased their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.91.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $24.99 on Tuesday. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. The business’s 50 day simple moving average is $22.35 and its 200 day simple moving average is $20.61. Kinder Morgan has a 12 month low of $15.91 and a 12 month high of $25.43. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 3.27 and a beta of 0.93.

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

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the transaction, the director now directly owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now owns 916,773 shares of the company’s stock, 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. In the last ninety days, insiders sold 817,040 shares of company stock valued at $19,747,879. Insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SignalPoint Asset Management LLC boosted its holdings in Kinder Morgan by 1.5% during the 3rd quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after acquiring an additional 447 shares during the period. Trust Co. of Oklahoma grew its holdings in shares of 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. Pinnacle West Asset Management Inc. grew its holdings in shares of Kinder Morgan by 0.5% in the third quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock worth $2,124,000 after purchasing an additional 500 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Kinder Morgan by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after buying an additional 530 shares during the last quarter. Finally, Premier Path Wealth Partners LLC raised its holdings in Kinder Morgan by 1.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after buying an additional 545 shares during the last quarter. Hedge funds and other 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.