Kinder Morgan (NYSE:KMI) Reaches New 52-Week High at $22.33

Kinder Morgan, Inc. (NYSE:KMI) shares hit a new 52-week high on Tuesday . The stock traded as high as $22.33 and last traded at $22.33, with a volume of 697522 shares. The stock had previously closed at $22.09.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KMI shares. Stifel Nicolaus upped their price objective on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 30th. Morgan Stanley upgraded shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price for the company in a research note on Monday, September 16th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, July 19th. Finally, Truist Financial lifted their price objective on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of “Hold” and a consensus price target of $22.55.

Kinder Morgan Price Performance

The company has a market cap of $50.92 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 3.09 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $21.35 and a two-hundred day simple moving average of $19.97.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.2875 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.01%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Buying and Selling at Kinder Morgan

In other news, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction 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 transaction, the president now owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Kinder Morgan

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after buying an additional 27,254,172 shares during the period. Confluence Investment Management LLC acquired a new stake in Kinder Morgan during the first quarter worth about $87,627,000. Castle Hook Partners LP raised its holdings in shares of Kinder Morgan by 108.2% in the 1st quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock worth $143,049,000 after purchasing an additional 4,053,793 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of Kinder Morgan by 45.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after purchasing an additional 3,135,457 shares in the last quarter. Finally, Duquesne Family Office LLC grew its holdings in shares of Kinder Morgan by 74.0% during the 2nd quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after purchasing an additional 2,872,665 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

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.