Today: Today: Wolfe Research Downgrade Kinder Morgan Inc. (KMI) to Buy

Today: Wolfe Research Downgrade Kinder Morgan Inc. (KMI) to Buy

Wolfe Research lowered shares of Kinder Morgan Inc. (NYSE:KMI) to a buy rating in a research note published on Tuesday.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus raised Kinder Morgan from a hold rating to a buy rating and dropped their price objective for the stock from $25.00 to $24.00 in a research note on Thursday, October 20th. They noted that the move was a valuation call. Vetr raised Kinder Morgan from a hold rating to a buy rating and set a $22.41 target price on the stock in a research report on Thursday, August 25th. Zacks Investment Research raised Kinder Morgan from a hold rating to a buy rating and set a $25.00 target price on the stock in a research report on Tuesday, September 20th. Goldman Sachs Group Inc. set a $24.00 target price on Kinder Morgan and gave the company a buy rating in a research report on Thursday, October 20th. Finally, Barclays PLC set a $25.00 target price on Kinder Morgan and gave the company a buy rating in a research 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 given a strong buy rating to the stock. Kinder Morgan presently has a consensus rating of Buy and a consensus price target of $22.32.

Shares of Kinder Morgan (NYSE:KMI) opened at 21.81 on Tuesday. The stock’s market cap is $48.69 billion. Kinder Morgan has a 52-week low of $11.20 and a 52-week high of $23.99. The company’s 50-day moving average price is $20.96 and its 200-day moving average price is $20.28.

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

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

In other Kinder Morgan news, Director Fayez Sarofim bought 700,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were purchased at an average cost of $21.41 per share, for a total transaction of $14,987,000.00. Following the transaction, the director now directly owns 29,142,387 shares of the company’s stock, valued at $623,938,505.67. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.97% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Kinder Morgan by 2.2% in the second quarter. Vanguard Group Inc. now owns 123,812,360 shares of the company’s stock worth $2,317,767,000 after buying an additional 2,665,546 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Kinder Morgan by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 50,141,308 shares of the company’s stock worth $1,159,768,000 after buying an additional 1,848,131 shares during the period. Northern Trust Corp boosted its stake in Kinder Morgan by 5.0% in the third quarter. Northern Trust Corp now owns 21,666,152 shares of the company’s stock worth $501,139,000 after buying an additional 1,040,842 shares during the period. BlackRock Group LTD boosted its stake in Kinder Morgan by 2.7% in the third quarter. BlackRock Group LTD now owns 15,291,474 shares of the company’s stock worth $353,691,000 after buying an additional 406,103 shares during the period. Finally, Cohen & Steers Inc. boosted its stake in Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock worth $336,051,000 after buying an additional 10,623,045 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

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