Scotiabank Initiates Coverage on Kinder Morgan (NYSE:KMI)

Investment analysts at Scotiabank started coverage on shares of Kinder Morgan (NYSE:KMI) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set a “sector perform” rating and a $26.00 price target on the pipeline company’s stock. Scotiabank’s price objective suggests a potential downside of 7.80% from the company’s current price.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on Kinder Morgan from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their target price on Kinder Morgan from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.67.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $28.20 on Friday. The company’s fifty day moving average price is $27.31 and its 200-day moving average price is $23.76. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The stock has a market cap of $62.65 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. Kinder Morgan has a 12 month low of $16.47 and a 12 month high of $28.82.

Kinder Morgan (NYSE:KMI) last posted 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). The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. Kinder Morgan’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, equities analysts expect that Kinder Morgan will post 1.18 EPS for the current fiscal year.

Insider Activity at Kinder Morgan

In related news, Director Amy W. Chronis acquired 2,241 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, the director now owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,263 shares of company stock worth $18,578,014. 12.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC boosted its position in shares of Kinder Morgan by 7.1% during the 4th quarter. ORG Wealth Partners LLC now owns 16,674 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 1,099 shares during the last quarter. ORG Partners LLC raised its holdings in Kinder Morgan by 119.4% during the 4th quarter. ORG Partners LLC now owns 8,488 shares of the pipeline company’s stock valued at $233,000 after buying an additional 4,619 shares during the period. Fortitude Family Office LLC increased its stake in Kinder Morgan by 136.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,897 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 1,096 shares during the period. Fortem Financial Group LLC purchased a new stake in Kinder Morgan in the fourth quarter worth $260,000. Finally, CWA Asset Management Group LLC increased its stake in Kinder Morgan by 6.0% in the fourth quarter. CWA Asset Management Group LLC now owns 63,099 shares of the pipeline company’s stock worth $1,729,000 after purchasing an additional 3,592 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Company Profile

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.