Kinder Morgan (NYSE:KMI) Price Target Raised to $24.00 at Royal Bank of Canada

Kinder Morgan (NYSE:KMI) had its target price hoisted by Royal Bank of Canada from $22.00 to $24.00 in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the pipeline company’s stock.

A number of other equities research analysts have also issued reports on the stock. Truist Financial increased their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Scotiabank increased their price objective on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Barclays boosted their target price on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Friday, October 11th. Finally, Morgan Stanley raised Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective for the company in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan currently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Kinder Morgan Trading Up 0.7 %

KMI opened at $24.93 on Wednesday. Kinder Morgan has a 52 week low of $15.91 and a 52 week high of $25.06. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $21.96 and a 200-day simple moving average of $20.39. The firm has a market cap of $55.33 billion, a P/E ratio of 22.66, a P/E/G ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. On average, equities analysts expect that Kinder Morgan will post 1.19 earnings per share for the current year.

Insider Buying and Selling at Kinder Morgan

In other news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares in the company, valued at approximately $534,841.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares in the company, valued at approximately $534,841.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock worth $3,121,891 over the last three months. Insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

Several large investors have recently modified their holdings of KMI. HWG Holdings LP acquired a new stake in Kinder Morgan during the 2nd quarter worth $30,000. ZRC Wealth Management LLC acquired a new stake in shares of Kinder Morgan during the third quarter worth about $36,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan during the first quarter worth about $30,000. Redmont Wealth Advisors LLC acquired a new position in Kinder Morgan in the 1st quarter valued at about $31,000. Finally, OFI Invest Asset Management purchased a new stake in Kinder Morgan during the 1st quarter valued at approximately $31,000. 62.52% of the stock is owned by institutional investors and hedge funds.

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.