BidaskClub Lowers Kinder Morgan, Inc. (KMI) to Strong Sell
Kinder Morgan, Inc. (NYSE:KMI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.
A number of other research firms have also weighed in on KMI. Wolfe Research lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $26.00 to $21.00 in a report on Tuesday, May 30th. Credit Suisse Group set a $27.00 target price on Kinder Morgan and gave the company a “buy” rating in a report on Thursday, April 20th. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Morgan Stanley restated an “overweight” rating and issued a $25.00 target price on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, BMO Capital Markets set a $26.00 target price on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Kinder Morgan presently has a consensus rating of “Buy” and an average price target of $23.91.
Kinder Morgan (KMI) traded up 0.27% on Wednesday, hitting $18.90. The company’s stock had a trading volume of 1,902,179 shares. The firm has a 50 day moving average of $19.69 and a 200-day moving average of $20.45. Kinder Morgan has a 12 month low of $18.31 and a 12 month high of $23.36. The stock has a market cap of $42.21 billion, a PE ratio of 62.38 and a beta of 0.64.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. On average, analysts expect that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has approved a share buyback plan on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In other news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, with a total value of $99,236.72. Following the completion of the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Insiders have purchased 507,503 shares of company stock valued at $9,437,597 over the last ninety days. 13.99% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in KMI. Wealthsource Partners LLC purchased a new stake in Kinder Morgan during the second quarter worth about $192,000. Piedmont Investment Advisors LLC increased its stake in Kinder Morgan by 0.7% in the second quarter. Piedmont Investment Advisors LLC now owns 411,348 shares of the pipeline company’s stock worth $7,881,000 after buying an additional 3,045 shares in the last quarter. Krilogy Financial LLC increased its stake in Kinder Morgan by 8.6% in the second quarter. Krilogy Financial LLC now owns 13,536 shares of the pipeline company’s stock worth $259,000 after buying an additional 1,067 shares in the last quarter. Stellar Capital Management LLC increased its stake in Kinder Morgan by 6.5% in the second quarter. Stellar Capital Management LLC now owns 39,893 shares of the pipeline company’s stock worth $764,000 after buying an additional 2,435 shares in the last quarter. Finally, Linscomb & Williams Inc. increased its stake in Kinder Morgan by 3.4% in the second quarter. Linscomb & Williams Inc. now owns 52,156 shares of the pipeline company’s stock worth $999,000 after buying an additional 1,692 shares in the last quarter. 57.40% of the stock is owned by institutional investors and hedge funds.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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