Kinder Morgan (NYSE:KMI) Given New $31.00 Price Target at Scotiabank

Kinder Morgan (NYSE:KMI) had its target price upped by Scotiabank from $30.00 to $31.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the pipeline company’s stock.

Several other brokerages also recently commented on KMI. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research report on Thursday, January 22nd. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Morgan Stanley boosted their price target on Kinder Morgan from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Mizuho upped their price objective on shares of Kinder Morgan from $31.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Finally, Stifel Nicolaus raised their target price on Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a report on Friday, March 13th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.46.

Kinder Morgan Stock Down 0.1%

KMI stock opened at $33.27 on Tuesday. The firm’s 50-day simple moving average is $30.96 and its 200 day simple moving average is $28.47. The stock has a market cap of $74.02 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.68. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95. Kinder Morgan has a fifty-two week low of $23.94 and a fifty-two week high of $34.24.

Kinder Morgan (NYSE:KMI) last issued its quarterly 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 return on equity of 9.02% and a net margin of 18.04%.The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that Kinder Morgan will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Kinder Morgan’s payout ratio is presently 85.40%.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 6,166 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $33.67, for a total transaction of $207,609.22. Following the sale, the vice president directly owned 188,872 shares of the company’s stock, valued at approximately $6,359,320.24. This represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William A. Smith purchased 3,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $29.75 per share, with a total value of $89,250.00. Following the acquisition, the director owned 31,087 shares in the company, valued at $924,838.25. This trade represents a 10.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 48,048 shares of company stock valued at $1,469,863 in the last quarter. Company insiders own 12.73% of the company’s stock.

Institutional Investors Weigh In On Kinder Morgan

A number of institutional investors have recently made changes to their positions in the stock. Board of the Pension Protection Fund bought a new stake in shares of Kinder Morgan in the 4th quarter valued at $27,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new position in Kinder Morgan during the 4th quarter valued at $28,000. Dorato Capital Management bought a new position in shares of Kinder Morgan during the fourth quarter valued at about $30,000. Finally, Basepoint Wealth LLC bought a new position in shares of Kinder Morgan during the 4th quarter worth approximately $30,000. Institutional investors own 62.52% of the company’s stock.

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.