Today, BMO Capital Markets Downgraded Kinder Morgan Inc. (KMI) to Buy

Today, BMO Capital Markets Downgraded Kinder Morgan Inc. (KMI) to Buy
BMO Capital Markets cut shares of Kinder Morgan Inc. (NYSE:KMI) to a buy rating in a research note issued to investors on Tuesday.

A number of other analysts have also weighed in on KMI. Morgan Stanley set a $24.00 target price on Kinder Morgan and gave the stock a buy rating in a report on Thursday, October 20th. Goldman Sachs Group Inc. set a $24.00 price objective on Kinder Morgan and gave the company a buy rating in a report on Thursday, October 20th. Wolfe Research lowered Kinder Morgan to a buy rating in a report on Tuesday. Barclays PLC set a $25.00 price objective on Kinder Morgan and gave the company a buy rating in a report on Thursday, October 20th. Finally, Credit Suisse Group AG upgraded Kinder Morgan from a neutral rating to an outperform rating and increased their price objective for the company from $23.00 to $26.00 in a report on Thursday, October 20th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $22.32.

Kinder Morgan (NYSE:KMI) opened at 21.80 on Tuesday. Kinder Morgan has a 52-week low of $11.20 and a 52-week high of $24.09. The stock’s market capitalization is $48.67 billion. The company’s 50-day moving average price is $21.01 and its 200 day moving average price is $20.24.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.25. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Kinder Morgan had a positive return on equity of 4.69% and a negative net margin of 1.13%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities research analysts predict that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, October 28th. Kinder Morgan’s dividend payout ratio is presently -416.67%.

In related news, Director Fayez Sarofim purchased 700,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average cost of $21.41 per share, with a total value of $14,987,000.00. Following the purchase, the director now owns 29,142,387 shares of the company’s stock, valued at approximately $623,938,505.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.97% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of KMI. A.R.T. Advisors LLC bought a new position in shares of Kinder Morgan during the first quarter worth $1,178,000. Phocas Financial Corp. bought a new position in shares of Kinder Morgan during the first quarter worth $6,736,000. BlueMountain Capital Management LLC raised its position in shares of Kinder Morgan by 116.3% in the first quarter. BlueMountain Capital Management LLC now owns 29,524 shares of the company’s stock worth $527,000 after buying an additional 15,873 shares in the last quarter. Cullinan Associates Inc. bought a new position in shares of Kinder Morgan during the second quarter worth $212,000. Finally, Private Asset Management Inc. raised its position in shares of Kinder Morgan by 5.3% in the second quarter. Private Asset Management Inc. now owns 506,113 shares of the company’s stock worth $9,474,000 after buying an additional 25,667 shares in the last quarter. 54.99% of the stock is currently owned by hedge funds and other institutional investors.

About Kinder Morgan

Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.

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