Bank of America Initiates Coverage on Kinder Morgan (NYSE:KMI)

Analysts at Bank of America began coverage on shares of Kinder Morgan (NYSE:KMI) in a research note issued on Thursday, StockNewsAPI reports. The firm set a “buy” rating and a $27.00 price target on the pipeline company’s stock. Bank of America‘s price objective would suggest a potential upside of 8.30% from the company’s current price.

Other research analysts also recently issued reports about the stock. Barclays boosted their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. UBS Group lifted their price objective on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Truist Financial lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.36.

Kinder Morgan Trading Up 0.7 %

NYSE:KMI opened at $24.93 on Thursday. Kinder Morgan has a 12 month low of $15.91 and a 12 month high of $25.06. The firm has a fifty day simple moving average of $21.96 and a 200-day simple moving average of $20.39. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $55.33 billion, a P/E ratio of 22.66, a PEG ratio of 3.27 and a beta of 0.93.

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 business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts anticipate that Kinder Morgan will post 1.19 earnings per share for the current year.

Insider Transactions at Kinder Morgan

In other news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 307,409 shares of the company’s stock, valued at $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock valued at $3,121,891 over the last 90 days. Corporate insiders own 12.64% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Institutional investors and hedge funds have recently bought and sold shares of the company. Czech National Bank boosted its holdings in Kinder Morgan by 6.9% in the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock valued at $8,689,000 after purchasing an additional 25,406 shares during the last quarter. LSV Asset Management acquired a new position in Kinder Morgan in the 1st quarter valued at about $8,818,000. Duality Advisers LP boosted its holdings in Kinder Morgan by 42.7% in the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock valued at $5,822,000 after purchasing an additional 94,984 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Kinder Morgan by 221.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock valued at $4,615,000 after purchasing an additional 173,313 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Kinder Morgan by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock valued at $46,726,000 after purchasing an additional 144,687 shares during 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.