Kinder Morgan (NYSE:KMI) Stock Breaks Above 50 Day Moving Average - Here's What Happened

Key Points

• Kinder Morgan shares crossed above their 50-day moving average of $32.03 on Thursday, reaching an intraday high of $32.41 and last trading near $32.03.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and an average price target of $37.15, with 12 Buy and 11 Hold ratings.
• The company beat quarterly earnings and revenue estimates, with EPS of $0.35 and revenue of $4.53 billion; it also announced a quarterly dividend of $0.2975 per share, equivalent to a 3.7% annualized yield.

Kinder Morgan, Inc. (NYSE:KMI - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $32.03 and traded as high as $32.41. Kinder Morgan shares last traded at $32.0310, with a volume of 7,280,801 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KMI. Citigroup upped their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, October 23rd. Weiss Ratings lowered Kinder Morgan from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, November 4th. Melius Research started coverage on Kinder Morgan in a report on Tuesday, September 22nd. They set a "buy" rating and a $38.00 price objective for the company. Scotiabank boosted their target price on shares of Kinder Morgan from $32.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 27th. Finally, Morgan Stanley reduced their price objective on Kinder Morgan from $40.00 to $39.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.15.

Kinder Morgan Trading Up 1.4%

The company's 50-day moving average price is $32.03 and its 200-day moving average price is $32.16. 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 firm has a market cap of $71.36 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.58.

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

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.2975 per share. The ex-dividend date is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 3.7%. Kinder Morgan's dividend payout ratio (DPR) is presently 73.46%.

Insider Activity

In related news, VP Michael Garthwaite sold 1,550 shares of the company's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $33.65, for a total value of $52,157.50. Following the completion of the sale, the vice president owned 47,313 shares of the company's stock, valued at approximately $1,592,082.45. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Schlosser sold 6,200 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $31.00, for a total transaction of $192,200.00. Following the completion of the sale, the vice president directly owned 158,008 shares of the company's stock, valued at approximately $4,898,248. This trade represents a 3.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,300 shares of company stock valued at $292,098. 12.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kinder Morgan

Institutional investors and hedge funds have recently made changes to their positions in the stock. Evolution Wealth Management Inc. boosted its position in shares of Kinder Morgan by 4,166.7% during the 2nd quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company's stock worth $25,000 after purchasing an additional 750 shares during the period. Transamerica Financial Advisors LLC increased its holdings in Kinder Morgan by 72.9% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 328 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Kinder Morgan in the first quarter valued at approximately $28,000. Bell Investment Advisors Inc raised its position in Kinder Morgan by 112.1% in the second quarter. Bell Investment Advisors Inc now owns 946 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 500 shares during the period. Finally, Robinswood Financial LLC acquired a new position in Kinder Morgan during the first quarter worth $34,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Company Profile

Kinder Morgan, Inc. NYSE: KMI is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company's operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.

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