The Goldman Sachs Group Forecasts Strong Price Appreciation for Kinder Morgan (NYSE:KMI) Stock

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

A number of other research firms have also recently weighed in on KMI. Truist Financial upped their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada raised their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Eight equities research 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. According to data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Kinder Morgan Trading Down 0.1 %

KMI stock opened at $28.07 on Tuesday. The company has a market cap of $62.36 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 4.01 and a beta of 0.91. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $24.95 and a 200-day simple moving average of $22.01. Kinder Morgan has a 52 week low of $16.47 and a 52 week high of $28.81.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Kinder Morgan will post 1.18 EPS for the current year.

Insider Transactions at Kinder Morgan

In other news, President Thomas A. Martin sold 19,121 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This represents a 2.09 % 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 Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the purchase, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.81% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Kinder Morgan by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock worth $101,422,000 after acquiring an additional 29,861 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Kinder Morgan by 3.5% during the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 776 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Kinder Morgan by 3.2% during the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock worth $50,624,000 after acquiring an additional 71,984 shares during the last quarter. Czech National Bank raised its position in shares of Kinder Morgan by 6.9% during the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after acquiring an additional 25,406 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Kinder Morgan by 1,512.7% during the third quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock worth $1,956,000 after acquiring an additional 83,090 shares during the last quarter. 62.52% of the stock is currently owned by 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.