Kinder Morgan (NYSE:KMI) Shares Up 1% – Here’s What Happened

Kinder Morgan, Inc. (NYSE:KMI)’s stock price rose 1% during mid-day trading on Wednesday . The stock traded as high as $29.58 and last traded at $29.40. Approximately 2,905,565 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 11,129,002 shares. The stock had previously closed at $29.12.

Analyst Ratings Changes

KMI has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Scotiabank assumed coverage on Kinder Morgan in a research report on Friday, January 10th. They set a “sector perform” rating and a $26.00 target price for the company. UBS Group upped their price target on Kinder Morgan from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial lifted their price objective on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada upped their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Kinder Morgan Price Performance

The company’s 50 day simple moving average is $27.47 and its 200 day simple moving average is $23.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The stock has a market cap of $65.27 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.87 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate 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 return on equity of 7.87% and a net margin of 16.76%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The shares were 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 9.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the transaction, the president now directly 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 ninety days, insiders sold 745,263 shares of company stock valued at $18,578,014. Company insiders own 12.64% of the company’s stock.

Institutional Trading of Kinder Morgan

A number of large investors have recently added to or reduced their stakes in the company. Duquesne Family Office LLC boosted its stake in shares of Kinder Morgan by 74.0% during the 2nd quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after acquiring an additional 2,872,665 shares during the period. Barclays PLC lifted its holdings in Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. National Bank of Canada FI boosted its position in Kinder Morgan by 295.5% during the third quarter. National Bank of Canada FI now owns 2,937,055 shares of the pipeline company’s stock worth $64,879,000 after purchasing an additional 2,194,489 shares during the period. International Assets Investment Management LLC increased its holdings in shares of 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 purchasing an additional 2,053,612 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Kinder Morgan by 20.6% in the second quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock valued at $154,409,000 after purchasing an additional 1,328,082 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

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.