Kinder Morgan (NYSE:KMI) Price Target Raised to $28.00 at Citigroup

Kinder Morgan (NYSE:KMI) had its target price hoisted by Citigroup from $25.00 to $28.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the pipeline company’s stock.

KMI has been the subject of several other research reports. Bank of America began coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Morgan Stanley upped their target price on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Scotiabank initiated coverage on Kinder Morgan in a research report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target on the stock. Truist Financial increased their price objective on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada increased their price target on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 $29.14.

Kinder Morgan Trading Down 0.6 %

NYSE:KMI opened at $27.30 on Wednesday. Kinder Morgan has a 1 year low of $16.47 and a 1 year high of $31.48. The stock has a market cap of $60.64 billion, a P/E ratio of 23.33, a P/E/G ratio of 4.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The stock has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $24.60.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.10% and a net margin of 17.31%. As a group, analysts anticipate that Kinder Morgan will post 1.27 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s payout ratio is currently 98.29%.

Insiders Place Their Bets

In other news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the sale, the president now directly owns 861,652 shares in the company, valued at $24,048,707.32. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy W. Chronis acquired 2,241 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 55,121 shares of company stock worth $1,497,000. 12.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in Kinder Morgan by 39.9% during the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. National Bank of Canada FI raised its position in shares of Kinder Morgan by 295.5% in the 3rd quarter. National Bank of Canada FI now owns 2,937,055 shares of the pipeline company’s stock worth $64,879,000 after buying an additional 2,194,489 shares during the period. International Assets Investment Management LLC boosted its holdings in Kinder Morgan by 1,849.7% in the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock valued at $47,817,000 after acquiring an additional 2,053,612 shares during the last quarter. Jennison Associates LLC increased its stake in Kinder Morgan by 847.4% during the fourth quarter. Jennison Associates LLC now owns 1,475,187 shares of the pipeline company’s stock worth $40,420,000 after acquiring an additional 1,319,474 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Kinder Morgan by 295.2% in the 3rd quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock worth $37,185,000 after purchasing an additional 1,257,428 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

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.