Kinder Morgan (NYSE:KMI) Price Target Cut to $27.00 by Analysts at Scotiabank

Key Points

• Scotiabank reduced its price target for Kinder Morgan from $28.00 to $27.00, indicating a potential downside of 1.40% from the stock's last closing price.
• Despite the downgrade from Scotiabank, other analysts have set higher price targets, with Wells Fargo increasing theirs from $33.00 to $34.00 and maintaining an "overweight" rating.
• Kinder Morgan reported $4.04 billion in revenue for the last quarter, exceeding analyst expectations and achieving a 13.2% year-over-year growth.

Kinder Morgan (NYSE:KMI - Get Free Report) had its price objective decreased by research analysts at Scotiabank from $28.00 to $27.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the pipeline company's stock. Scotiabank's price target points to a potential downside of 1.40% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company lifted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Barclays reaffirmed an "overweight" rating and set a $32.00 price objective (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Friday, July 25th. Morgan Stanley set a $32.00 price objective on Kinder Morgan in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.06.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock traded down $0.29 during trading on Friday, reaching $27.38. The company's stock had a trading volume of 6,048,575 shares, compared to its average volume of 14,251,730. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The business's fifty day moving average price is $27.18 and its 200-day moving average price is $27.37. The firm has a market cap of $60.84 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 3.23 and a beta of 0.81. Kinder Morgan has a one year low of $21.45 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company posted $0.26 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. As a group, equities research analysts predict that Kinder Morgan will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Dax Sanders sold 30,127 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president owned 292,000 shares in the company, valued at $7,898,600. This represents a 9.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $27.00, for a total value of $166,482.00. Following the transaction, the vice president owned 225,868 shares of the company's stock, valued at approximately $6,098,436. This trade represents a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,008 shares of company stock worth $3,553,982 over the last 90 days. 12.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinder Morgan

A number of large investors have recently added to or reduced their stakes in KMI. Westwood Holdings Group Inc. boosted its stake in shares of Kinder Morgan by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 6,442,093 shares of the pipeline company's stock worth $183,793,000 after buying an additional 794,388 shares during the last quarter. Burney Co. boosted its stake in shares of Kinder Morgan by 133.5% during the 1st quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after buying an additional 252,736 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Kinder Morgan by 35.2% during the 1st quarter. Aberdeen Group plc now owns 2,343,165 shares of the pipeline company's stock worth $66,581,000 after buying an additional 609,748 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Kinder Morgan by 402.5% during the 1st quarter. AdvisorNet Financial Inc now owns 39,393 shares of the pipeline company's stock worth $1,124,000 after buying an additional 31,553 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of Kinder Morgan by 127.2% during the 4th quarter. Siemens Fonds Invest GmbH now owns 27,978 shares of the pipeline company's stock worth $767,000 after buying an additional 15,662 shares during the last quarter. Institutional investors own 62.52% of the company's stock.

About Kinder Morgan

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.

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