Kinder Morgan (NYSE:KMI) Given New $24.00 Price Target at Barclays

Kinder Morgan (NYSE:KMI) had its target price hoisted by Barclays from $22.00 to $24.00 in a research note published on Monday, Benzinga reports. They currently have an equal weight rating on the pipeline company’s stock.

A number of other equities analysts have also issued reports on the stock. Truist Financial raised their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Scotiabank upped their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. Finally, Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.09.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.26 during trading hours on Monday, hitting $24.75. 1,318,115 shares of the company’s stock traded hands, compared to its average volume of 13,735,911. The business’s fifty day moving average price is $22.91 and its two-hundred day moving average price is $21.00. Kinder Morgan has a 52 week low of $16.17 and a 52 week high of $25.43. 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 firm has a market capitalization of $54.99 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.99 and a beta of 0.91.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts predict that Kinder Morgan will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio is presently 100.88%.

Insiders Place Their Bets

In other news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now directly owns 6,809,858 shares in the company, valued at $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KMI. Northwest Investment Counselors LLC acquired a new position in shares of Kinder Morgan during the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $30,000. HWG Holdings LP bought a new position in Kinder Morgan in the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Kinder Morgan during the 2nd quarter valued at $31,000. Finally, HM Payson & Co. raised its holdings in Kinder Morgan by 401.8% during the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,145 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.