Kinder Morgan (NYSE:KMI) Given New $27.00 Price Target at Scotiabank

Kinder Morgan (NYSE:KMI) had its price target boosted by Scotiabank from $26.00 to $27.00 in a research note released on Thursday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the pipeline company’s stock.

KMI has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Monday, March 3rd. Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday. Wells Fargo & Company reissued an “overweight” rating on shares of Kinder Morgan in a report on Monday, May 5th. Finally, Royal Bank of Canada boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.21.

Kinder Morgan Stock Performance

NYSE KMI opened at $28.21 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The firm has a market capitalization of $62.67 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 3.08 and a beta of 0.74. The company’s fifty day moving average is $27.18 and its two-hundred day moving average is $27.46. Kinder Morgan has a 52-week low of $19.47 and a 52-week high of $31.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. Equities research analysts forecast that Kinder Morgan will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.2925 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 annualized dividend and a dividend yield of 4.15%. Kinder Morgan’s payout ratio is currently 100.86%.

Insider Transactions at Kinder Morgan

In other news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $27.57, for a total transaction of $496,260.00. Following the completion of the sale, the president now owns 789,652 shares in the company, valued at $21,770,705.64. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 54,000 shares of company stock worth $1,522,440 in the last quarter. 12.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinder Morgan

Several institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $917,523,000. Nuveen LLC acquired a new position in Kinder Morgan during the first quarter valued at approximately $205,966,000. 59 North Capital Management LP acquired a new position in Kinder Morgan during the first quarter valued at approximately $195,658,000. Raymond James Financial Inc. acquired a new position in Kinder Morgan during the fourth quarter valued at approximately $157,804,000. Finally, Goldman Sachs Group Inc. grew its holdings in Kinder Morgan by 37.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock valued at $578,628,000 after purchasing an additional 5,529,065 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

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.