Bank of America Upgrades Kinder Morgan (NYSE:KMI) to “Buy”

Kinder Morgan (NYSE:KMI) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $27.00 target price on the pipeline company’s stock, up from their prior target price of $23.00. Bank of America‘s price objective would indicate a potential upside of 9.31% from the company’s previous close.

A number of other equities analysts have also issued reports on KMI. Truist Financial raised their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Barclays upped their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Morgan Stanley raised shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target for the company in a research report on Monday, September 16th. UBS Group upped their price objective on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Friday, July 19th. Eight equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.18.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $24.70 on Friday. Kinder Morgan has a fifty-two week low of $15.91 and a fifty-two week high of $24.70. The company has a market cap of $54.82 billion, a PE ratio of 22.45, a P/E/G ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The business has a 50-day simple moving average of $21.70 and a two-hundred day simple moving average of $20.25.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Kinder Morgan will post 1.19 EPS for the current fiscal year.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $534,841.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. 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 accessible through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now owns 307,409 shares in the company, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock worth $3,121,891 in the last 90 days. Corporate insiders own 12.64% of the company’s stock.

Institutional Trading of Kinder Morgan

Institutional investors have recently made changes to their positions in the company. SignalPoint Asset Management LLC lifted its holdings in Kinder Morgan by 1.5% in the 3rd quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after purchasing an additional 447 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Kinder Morgan by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after acquiring an additional 530 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake 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 acquiring an additional 545 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its holdings in Kinder Morgan by 4.3% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock valued at $242,000 after acquiring an additional 547 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Kinder Morgan by 4.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock worth $267,000 after purchasing an additional 566 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

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.