Kinder Morgan (NYSE:KMI) Price Target Raised to $29.00

Kinder Morgan (NYSE:KMI) had its target price raised by equities research analysts at The Goldman Sachs Group from $26.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 3.31% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. UBS Group raised their price objective on Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial raised their price objective on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a research note on Friday, October 18th. Finally, Barclays raised their price objective on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $25.67.

Kinder Morgan Trading Down 0.1 %

Shares of KMI stock opened at $28.07 on Tuesday. The company has a market cap of $62.36 billion, a P/E ratio of 24.62, a PEG ratio of 4.01 and a beta of 0.91. The stock has a 50 day simple moving average of $24.95 and a two-hundred day simple moving average of $22.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. Kinder Morgan has a fifty-two week low of $16.47 and a fifty-two week high of $28.81.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Research analysts forecast that Kinder Morgan will post 1.18 earnings per share for the current year.

Insider Buying and Selling at Kinder Morgan

In related news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on 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 directly owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy W. Chronis acquired 2,241 shares of the firm’s 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 completion of the purchase, the director now owns 23,995 shares in the company, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.81% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. boosted its holdings in shares of Kinder Morgan by 0.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 90,560 shares of the pipeline company’s stock worth $2,000,000 after purchasing an additional 414 shares in the last quarter. SignalPoint Asset Management LLC boosted its holdings in shares of Kinder Morgan by 1.5% in the 3rd 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 in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Kinder Morgan by 0.3% in the 3rd quarter. Moors & Cabot Inc. now owns 144,529 shares of the pipeline company’s stock worth $3,193,000 after purchasing an additional 468 shares in the last quarter. Trust Co. of Oklahoma boosted its holdings in shares of Kinder Morgan by 1.5% in the 3rd 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 in the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its holdings in shares of Kinder Morgan by 0.5% in the 3rd 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 in the last quarter. 62.52% of the stock is currently 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.