Kinder Morgan (NYSE:KMI) Price Target Raised to $28.00 at Scotiabank

Kinder Morgan (NYSE:KMI - Free Report) had its price objective upped by Scotiabank from $27.00 to $28.00 in a research note released on Friday,Benzinga reports. The firm currently has a sector perform rating on the pipeline company's stock.

A number of other research firms have also weighed in on KMI. Stifel Nicolaus increased their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. TD Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 target price on the stock. Barclays reiterated an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada increased their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Kinder Morgan Price Performance

Shares of KMI traded up $0.40 during mid-day trading on Friday, hitting $27.89. 18,792,404 shares of the stock were exchanged, compared to its average volume of 13,821,146. The company has a market cap of $61.97 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 3.54 and a beta of 0.75. Kinder Morgan has a 52-week low of $19.68 and a 52-week high of $31.48. The firm has a 50-day moving average of $28.00 and a two-hundred day moving average of $27.60. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.35 and a current ratio of 0.68.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share 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 company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. Kinder Morgan's quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Kinder Morgan will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Thursday, July 31st. Kinder Morgan's payout ratio is currently 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the completion of the sale, the president directly owned 771,652 shares in the company, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMI. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 0.6% in the first quarter. Vanguard Group Inc. now owns 204,148,872 shares of the pipeline company's stock worth $5,824,367,000 after purchasing an additional 1,302,794 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kinder Morgan by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company's stock worth $1,414,813,000 after purchasing an additional 1,252,609 shares during the last quarter. Norges Bank purchased a new position in shares of Kinder Morgan in the fourth quarter worth about $917,523,000. Northern Trust Corp raised its stake in shares of Kinder Morgan by 8.3% in the fourth quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company's stock worth $573,834,000 after purchasing an additional 1,608,499 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kinder Morgan by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company's stock worth $578,628,000 after purchasing an additional 5,529,065 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

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.