Zacks Investment Research upgraded shares of Kinder Morgan Inc. (NYSE:KMI) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $25.00 price target on the stock.
According to Zacks, “Kinder Morgan is one of the largest midstream companies in North America. We believe that the company’s size will prove to be advantageous with opportunities to build smaller adjacent pipelines at a lower cost than peers. Going forward, Kinder Morgan’s significant investments in a number of projects should help drive growth in the coming years. We also like the company’s focus on stable, fee-based, well-diversified assets and its strong balance sheet. In particular, we expect Kinder Morgan to seize attractive investment opportunities in the Eagle Ford and Haynesville shale plays. Such positives are likely to boost future earnings as well. Consequently, we think that KMI offers substantial upside potential from the current price levels.”
A number of other research firms have also issued reports on KMI. Vetr raised Kinder Morgan from a buy rating to a strong-buy rating and set a $24.78 target price on the stock in a report on Monday, September 12th. Deutsche Bank AG reaffirmed a buy rating on shares of Kinder Morgan in a report on Wednesday, June 29th. Morgan Stanley upgraded Kinder Morgan from an equal weight rating to an overweight rating and raised their price objective for the stock from $23.00 to $24.00 in a research report on Thursday, August 18th. TheStreet upgraded Kinder Morgan from a sell rating to a hold rating in a research report on Wednesday, June 22nd. Finally, Barclays PLC raised their price objective on Kinder Morgan from $20.00 to $25.00 and gave the stock an overweight rating in a research report on Monday, July 18th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $20.83.
Kinder Morgan (NYSE:KMI) opened at 21.94 on Tuesday. Kinder Morgan has a 1-year low of $11.20 and a 1-year high of $32.89. The stock has a 50 day moving average price of $21.73 and a 200 day moving average price of $19.24. The company has a market cap of $48.98 billion, a PE ratio of 783.57 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 20th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.45 billion. Kinder Morgan had a return on equity of 4.82% and a net margin of 1.63%. The company’s revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Equities analysts forecast that Kinder Morgan will post $0.67 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Hudock Capital Group LLC boosted its stake in Kinder Morgan by 12.0% in the second quarter. Hudock Capital Group LLC now owns 5,394 shares of the company’s stock valued at $100,000 after buying an additional 576 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Kinder Morgan during the first quarter worth approximately $110,000. Huntington Asset Advisors Inc. bought a new stake in shares of Kinder Morgan during the first quarter worth approximately $111,000. Hallmark Capital Management Inc. bought a new stake in shares of Kinder Morgan during the second quarter worth approximately $157,000. Finally, PineBridge Investments L.P. boosted its stake in shares of Kinder Morgan by 465.2% in the second quarter. PineBridge Investments L.P. now owns 9,258 shares of the company’s stock worth $173,000 after buying an additional 7,620 shares during the period. 54.61% of the stock is owned by institutional investors.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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