Kinder Morgan, Inc. (NYSE:KMI) had its price target decreased by Citigroup Inc. from $23.00 to $21.00 in a research report released on Tuesday, October 17th. Citigroup Inc. currently has a neutral rating on the pipeline company’s stock.
KMI has been the topic of several other research reports. Zacks Investment Research downgraded Kinder Morgan from a hold rating to a sell rating in a report on Tuesday, July 11th. Jefferies Group LLC reissued a hold rating and issued a $23.00 price target on shares of Kinder Morgan in a report on Friday, June 23rd. TD Securities set a $26.00 target price on Kinder Morgan and gave the company a buy rating in a research note on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a buy rating to a neutral rating and lifted their target price for the company from $18.81 to $22.00 in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada cut their target price on Kinder Morgan from $25.00 to $22.00 and set a sector perform rating on the stock in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of Hold and an average price target of $23.03.
Shares of Kinder Morgan (NYSE KMI) traded up 1.44% during midday trading on Tuesday, reaching $18.26. 6,370,938 shares of the company traded hands. Kinder Morgan has a 1-year low of $17.82 and a 1-year high of $23.01. The stock has a 50 day moving average price of $19.05 and a 200 day moving average price of $19.49. The firm has a market capitalization of $40.78 billion, a PE ratio of 60.26 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Kinder Morgan had a return on equity of 4.37% and a net margin of 10.39%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the business posted ($0.10) EPS. Kinder Morgan’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.78%. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan declared that its board has approved a share repurchase program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.99% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new position in shares of Kinder Morgan in the third quarter worth about $2,599,000. Callahan Advisors LLC increased its stake in Kinder Morgan by 3.3% during the third quarter. Callahan Advisors LLC now owns 421,882 shares of the pipeline company’s stock valued at $8,092,000 after acquiring an additional 13,443 shares during the period. Fort Pitt Capital Group LLC increased its stake in Kinder Morgan by 185.1% during the third quarter. Fort Pitt Capital Group LLC now owns 450,907 shares of the pipeline company’s stock valued at $8,648,000 after acquiring an additional 292,760 shares during the period. Calamos Advisors LLC increased its stake in Kinder Morgan by 3.9% during the third quarter. Calamos Advisors LLC now owns 235,322 shares of the pipeline company’s stock valued at $4,513,000 after acquiring an additional 8,725 shares during the period. Finally, Supplemental Annuity Collective Trust of NJ increased its stake in Kinder Morgan by 20.0% during the third quarter. Supplemental Annuity Collective Trust of NJ now owns 36,000 shares of the pipeline company’s stock valued at $690,000 after acquiring an additional 6,000 shares during the period. Institutional investors and hedge funds own 59.07% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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