Truist Financial Boosts Kinder Morgan (NYSE:KMI) Price Target to $25.00

Kinder Morgan (NYSE:KMI) had its price objective upped by Truist Financial from $22.00 to $25.00 in a research report released on Thursday morning, MarketBeat Ratings reports. Truist Financial currently has a hold rating on the pipeline company’s stock.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Morgan Stanley raised Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a report on Monday, September 16th. UBS Group lifted their price target on Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, July 19th. Finally, Royal Bank of Canada boosted their target price on Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. 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 company. Based on data from MarketBeat, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.27.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $24.95 on Thursday. The company’s 50 day moving average is $22.12 and its two-hundred day moving average is $20.49. The firm has a market cap of $55.37 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.27 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. Kinder Morgan has a 52-week low of $15.91 and a 52-week high of $25.43.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that Kinder Morgan will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.61%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 over the last quarter. Company insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Kinder Morgan by 15.8% in the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after purchasing an additional 27,254,172 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kinder Morgan by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock valued at $335,891,000 after buying an additional 257,658 shares during the last quarter. Clearbridge Investments LLC increased its position in Kinder Morgan by 23.6% during the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after buying an additional 2,125,648 shares in the last quarter. Energy Income Partners LLC raised its holdings in shares of Kinder Morgan by 2.6% in the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock worth $196,558,000 after acquiring an additional 272,648 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its position in shares of Kinder Morgan by 45.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after acquiring an additional 3,135,457 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.