The Goldman Sachs Group Boosts Kinder Morgan (NYSE:KMI) Price Target to $29.00

Kinder Morgan (NYSE:KMI) had its price target boosted by The Goldman Sachs Group from $26.00 to $29.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the pipeline company’s stock.

KMI has been the subject of several other reports. Truist Financial upped their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company increased their price target on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their target price on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.67.

Kinder Morgan Stock Up 0.8 %

Shares of Kinder Morgan stock opened at $28.09 on Tuesday. Kinder Morgan has a twelve month low of $16.47 and a twelve month high of $28.81. The stock has a market cap of $62.39 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. 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 company has a fifty day moving average price of $24.82 and a 200 day moving average price of $21.97.

Kinder Morgan (NYSE:KMI) last posted 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). The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. Kinder Morgan’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts forecast that Kinder Morgan will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Director Amy W. Chronis purchased 2,241 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares of the company’s stock, valued at approximately $597,235.55. The trade was a 10.30 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. raised its position in shares of Kinder Morgan by 0.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 90,560 shares of the pipeline company’s stock worth $2,000,000 after buying an additional 414 shares in the last quarter. SignalPoint Asset Management LLC raised its holdings in Kinder Morgan by 1.5% during the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after purchasing an additional 447 shares in the last quarter. Moors & Cabot Inc. lifted its position in Kinder Morgan by 0.3% in the third quarter. Moors & Cabot Inc. now owns 144,529 shares of the pipeline company’s stock worth $3,193,000 after purchasing an additional 468 shares during the period. Trust Co. of Oklahoma boosted its stake in Kinder Morgan by 1.5% during the 3rd quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 486 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. increased its position in shares of Kinder Morgan by 0.5% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock valued at $2,124,000 after purchasing an additional 500 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.