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

Kinder Morgan (NYSE:KMI) had its price target lifted by research analysts at Barclays from $22.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Barclays‘s target price would suggest a potential downside of 0.74% from the stock’s previous close.

A number of other research analysts have also weighed in on KMI. The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Friday, July 19th. Stifel Nicolaus lifted their price target on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada increased their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley set a $26.00 target price on shares of Kinder Morgan in a research report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.09.

Kinder Morgan Price Performance

NYSE KMI opened at $24.18 on Monday. Kinder Morgan has a fifty-two week low of $16.17 and a fifty-two week high of $25.43. The stock’s 50-day moving average is $22.85 and its two-hundred day moving average is $20.95. The firm has a market cap of $53.72 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 3.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on 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 owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan 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 transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in Kinder Morgan during the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new position in shares of Kinder Morgan during the first quarter worth approximately $30,000. HWG Holdings LP bought a new stake in shares of Kinder Morgan during the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $31,000. Finally, HM Payson & Co. raised its position in Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 1,145 shares during the last quarter. 62.52% of the stock is 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.