Kinder Morgan (NYSE:KMI) Price Target Raised to $34.00 at UBS Group

Kinder Morgan (NYSE:KMI) had its price objective raised by investment analysts at UBS Group from $33.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. UBS Group’s target price suggests a potential upside of 22.39% from the stock’s current price.

KMI has been the subject of a number of other reports. Barclays lifted their price objective on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial lifted their price objective on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America assumed coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective for the company. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

Kinder Morgan Stock Performance

KMI stock traded down $0.19 during midday trading on Friday, hitting $27.78. The stock had a trading volume of 3,550,396 shares, compared to its average volume of 13,777,585. The firm has a market capitalization of $61.72 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 3.95 and a beta of 0.95. Kinder Morgan has a 52 week low of $16.47 and a 52 week high of $28.81. The stock has a 50-day simple moving average of $25.65 and a 200 day simple moving average of $22.34. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. As a group, equities research analysts anticipate that Kinder Morgan will post 1.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Amy W. Chronis acquired 2,241 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $24.89 per share, with a total value of $55,778.49. Following the acquisition, the director now owns 23,995 shares of the company’s stock, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 727,263 shares of company stock valued at $18,075,634. 12.64% of the stock is currently owned by insiders.

Institutional Trading of Kinder Morgan

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of Kinder Morgan by 295.2% in the 3rd quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock valued at $37,185,000 after acquiring an additional 1,257,428 shares during the last quarter. Old North State Trust LLC grew its holdings in shares of Kinder Morgan by 6.2% during the third quarter. Old North State Trust LLC now owns 22,143 shares of the pipeline company’s stock worth $489,000 after buying an additional 1,300 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Kinder Morgan by 44.0% in the third quarter. Franklin Resources Inc. now owns 1,142,956 shares of the pipeline company’s stock worth $25,248,000 after purchasing an additional 349,158 shares in the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Kinder Morgan by 2.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 180,272 shares of the pipeline company’s stock worth $3,982,000 after buying an additional 4,717 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Kinder Morgan by 1.7% in the third quarter. Synovus Financial Corp now owns 103,618 shares of the pipeline company’s stock valued at $2,289,000 after buying an additional 1,769 shares in the last quarter. 62.52% of the stock is owned by institutional investors.

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.