Kinder Morgan (NYSE:KMI) Given New $26.00 Price Target at Royal Bank of Canada

Kinder Morgan (NYSE:KMI) had its target price boosted by Royal Bank of Canada from $24.00 to $26.00 in a research report released 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 commented on KMI. Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 19th. Barclays raised their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Truist Financial raised their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Morgan Stanley set a $26.00 price objective on shares of Kinder Morgan in a report on Friday. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.91.

Kinder Morgan Trading Up 0.3 %

Shares of KMI stock opened at $24.81 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The firm has a market cap of $55.06 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The company has a 50-day moving average of $22.27 and a two-hundred day moving average of $20.58. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.43.

Kinder Morgan (NYSE:KMI) last announced its 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 company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business earned $0.25 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts predict that Kinder Morgan will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.64%. Kinder Morgan’s payout ratio is 104.55%.

Insider Activity

In other news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal 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 on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction 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 completion of the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,898 shares of company stock valued at $2,666,865 in the last ninety days. 12.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 worth $3,665,963,000 after purchasing an additional 27,254,172 shares in the last quarter. Castle Hook Partners LP boosted its position in shares of Kinder Morgan by 108.2% during 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 in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Kinder Morgan by 45.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after purchasing an additional 3,135,457 shares in the last quarter. Duquesne Family Office LLC boosted its position 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 in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after purchasing an additional 2,125,648 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.