Royal Bank Of Canada Raises Kinder Morgan (NYSE:KMI) Price Target to $35.00

Kinder Morgan (NYSE:KMI) had its price target raised by equities researchers at Royal Bank Of Canada from $32.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 3.43% from the stock’s previous close.

KMI has been the subject of several other reports. TD Cowen upped their price objective on Kinder Morgan from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Wells Fargo & Company boosted their target price on Kinder Morgan from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Scotiabank upped their price target on Kinder Morgan from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday. UBS Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Kinder Morgan in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research note on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.43.

Kinder Morgan Stock Performance

NYSE:KMI traded down $0.19 during trading hours on Monday, reaching $33.84. 4,350,663 shares of the company’s stock were exchanged, compared to its average volume of 14,502,617. Kinder Morgan has a 1-year low of $23.94 and a 1-year high of $34.73. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $75.28 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 3.12 and a beta of 0.68. The company has a 50-day moving average of $31.97 and a 200 day moving average of $28.86.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that Kinder Morgan will post 1.25 EPS for the current year.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP Anthony B. Ashley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $31.95, for a total transaction of $255,600.00. Following the transaction, the vice president directly owned 100,146 shares in the company, valued at approximately $3,199,664.70. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William A. Smith bought 3,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was bought at an average cost of $29.75 per share, with a total value of $89,250.00. Following the completion of the acquisition, the director owned 31,087 shares of the company’s stock, valued at $924,838.25. This represents a 10.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 48,048 shares of company stock worth $1,469,863. Company insiders own 12.73% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Kinder Morgan in the fourth quarter valued at $308,000. Schnieders Capital Management LLC. boosted its position in shares of Kinder Morgan by 11.4% in the 2nd quarter. Schnieders Capital Management LLC. now owns 69,444 shares of the pipeline company’s stock worth $2,042,000 after buying an additional 7,081 shares in the last quarter. American Century Companies Inc. grew its stake in Kinder Morgan by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 378,641 shares of the pipeline company’s stock valued at $11,132,000 after acquiring an additional 3,155 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Kinder Morgan during the 2nd quarter valued at about $94,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Kinder Morgan by 32.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 324,421 shares of the pipeline company’s stock worth $9,538,000 after acquiring an additional 78,796 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.