Kinder Morgan (NYSE:KMI) Price Target Raised to $32.00

Kinder Morgan (NYSE:KMI) had its price target boosted by Barclays from $31.00 to $32.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the pipeline company’s stock.

A number of other research firms also recently weighed in on KMI. Wells Fargo & Company reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. Royal Bank Of Canada lifted their price target 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. JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Scotiabank boosted their target price on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, June 5th. Finally, Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.29.

Kinder Morgan Trading Down 0.7%

NYSE:KMI opened at $28.35 on Monday. Kinder Morgan has a 12 month low of $19.47 and a 12 month high of $31.48. The firm has a market cap of $63.00 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.13 and a beta of 0.74. The company has a quick ratio of 0.35, a current ratio of 0.45 and a debt-to-equity ratio of 0.94. The company’s 50 day moving average is $27.52 and its 200-day moving average is $27.45.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a net margin of 16.67% and a return on equity of 8.11%. Equities analysts anticipate that Kinder Morgan will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a $0.2925 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.17 annualized dividend and a dividend yield of 4.13%. Kinder Morgan’s payout ratio is currently 100.86%.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $27.57, for a total value of $496,260.00. Following the completion of the transaction, the president now directly owns 789,652 shares in the company, valued at approximately $21,770,705.64. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 54,000 shares of company stock worth $1,522,440. 12.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kinder Morgan

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Kinder Morgan during the 4th quarter worth approximately $917,523,000. Nuveen LLC acquired a new position in Kinder Morgan during the 1st quarter worth approximately $205,966,000. 59 North Capital Management LP acquired a new position in Kinder Morgan during the 1st quarter worth approximately $195,658,000. Raymond James Financial Inc. bought a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $157,804,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kinder Morgan by 37.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after purchasing an additional 5,529,065 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.