Citigroup Forecasts Strong Price Appreciation for Kinder Morgan (NYSE:KMI) Stock

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

A number of other research firms also recently weighed in on KMI. Barclays raised their price target on shares of Kinder Morgan from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Truist Financial boosted their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Bank of America assumed coverage on Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Scotiabank started coverage on Kinder Morgan in a research report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 target price for the company. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $27.30 on Wednesday. Kinder Morgan has a 12-month low of $16.47 and a 12-month high of $31.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company has a market capitalization of $60.64 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 4.13 and a beta of 0.94. The firm’s fifty day moving average price is $28.01 and its 200 day moving average price is $24.60.

Kinder Morgan (NYSE:KMI) last released 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%. On average, research analysts forecast that Kinder Morgan will post 1.27 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

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

Insider Transactions at Kinder Morgan

In other news, Director Amy W. Chronis bought 2,241 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the purchase, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the transaction, the president now owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,121 shares of company stock valued at $1,497,000. Company insiders own 12.64% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

A number of hedge funds have recently modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new stake in Kinder Morgan during the 4th quarter worth about $25,000. Modus Advisors LLC acquired a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new position in Kinder Morgan in the 4th quarter worth approximately $29,000. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan during the third quarter valued at $28,000. Finally, Planning Capital Management Corp raised its position in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after buying an additional 797 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.