Kinder Morgan (NYSE:KMI) Price Target Raised to $37.00

Key Points

• JPMorgan raised Kinder Morgan’s price target from $36 to $37 while maintaining a “neutral” rating, implying 11.12% potential upside. Across analysts, the stock has a “Moderate Buy” consensus with an average target of $37.20.
• Kinder Morgan shares fell 1.7% to $33.30, despite the company beating quarterly expectations with $0.35 EPS versus $0.33 expected and revenue of $4.53 billion, up 9.3% year over year.
• Institutional investors own 62.52% of Kinder Morgan, with major holders including BlackRock and State Street increasing their positions; insiders own 12.72% of shares.

Kinder Morgan (NYSE:KMI - Get Free Report) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $36.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the pipeline company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 11.12% from the company's previous close.

KMI has been the subject of several other reports. Mizuho raised their target price on Kinder Morgan from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. UBS Group reissued a "buy" rating on shares of Kinder Morgan in a research report on Tuesday, October 27th. Morgan Stanley raised their price target on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 27th. Wells Fargo & Company upped their price objective on shares of Kinder Morgan from $36.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Finally, Argus upped their price target on shares of Kinder Morgan from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.20.

Kinder Morgan Stock Down 1.7%

KMI stock traded down $0.57 during trading on Monday, reaching $33.30. The stock had a trading volume of 1,218,968 shares, compared to its average volume of 12,363,362. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $74.18 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.36 and a beta of 0.59. Kinder Morgan has a one year low of $25.60 and a one year high of $34.81. The company's 50 day moving average is $32.06 and its two-hundred day moving average is $32.03.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter last year, the firm earned $0.29 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Kinder Morgan will post 1.57 EPS for the current year.

Insider Buying and Selling at Kinder Morgan

In other news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the sale, the vice president owned 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock worth $5,621,421,000 after acquiring an additional 1,875,143 shares in the last quarter. State Street Corp lifted its stake in Kinder Morgan by 4.3% during the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company's stock worth $4,183,704,000 after purchasing an additional 5,361,578 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Kinder Morgan by 1.4% in the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company's stock worth $2,079,477,000 after purchasing an additional 836,571 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinder Morgan by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company's stock worth $577,998,000 after purchasing an additional 448,130 shares in the last quarter. Finally, Amundi increased its position in shares of Kinder Morgan by 5.8% during the 1st quarter. Amundi now owns 15,130,700 shares of the pipeline company's stock valued at $507,332,000 after purchasing an additional 831,125 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

About Kinder Morgan

Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company's natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.

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