Kinder Morgan (NYSE:KMI) Cut to Market Perform at Raymond James

Raymond James cut shares of Kinder Morgan (NYSE:KMI) from an outperform rating to a market perform rating in a research report released on Wednesday, June 26th, Benzinga reports. The firm currently has $20.72 target price on the pipeline company’s stock.

Other equities analysts also recently issued research reports about the company. Goldman Sachs Group upgraded Bright Scholar Education Holdngs from a neutral rating to a buy rating and set a $10.28 price target on the stock in a research report on Thursday, March 28th. Stifel Nicolaus raised their target price on Mondelez International from $48.00 to $52.00 and gave the company a hold rating in a research report on Monday, June 17th. Johnson Rice initiated coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They issued a buy rating and a $35.00 target price on the stock. JPMorgan Chase & Co. set a $45.00 price target on Ciena and gave the company a buy rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group increased their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the company a buy rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Kinder Morgan currently has a consensus rating of Hold and an average target price of $21.73.

Shares of NYSE KMI traded down $0.17 during mid-day trading on Wednesday, reaching $20.42. 23,075,415 shares of the company were exchanged, compared to its average volume of 14,527,028. The business has a 50-day simple moving average of $20.82. Kinder Morgan has a 1 year low of $14.62 and a 1 year high of $21.50. The firm has a market capitalization of $46.61 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 3.05 and a beta of 0.85. The company has a current ratio of 0.45, a quick ratio of 0.37 and a debt-to-equity ratio of 0.97.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a net margin of 11.59% and a return on equity of 6.13%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Analysts anticipate that Kinder Morgan will post 0.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.90%. Kinder Morgan’s payout ratio is 112.36%.

In related news, insider Richard D. Kinder purchased 200,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $19.89 per share, for a total transaction of $3,978,000.00. Following the acquisition, the insider now owns 239,801,954 shares in the company, valued at $4,769,660,865.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard D. Kinder purchased 29,622 shares of Kinder Morgan stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average cost of $19.90 per share, for a total transaction of $589,477.80. Following the transaction, the chairman now directly owns 239,601,954 shares of the company’s stock, valued at approximately $4,768,078,884.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,607,164 shares of company stock worth $31,486,119 in the last quarter. 13.95% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Halsey Associates Inc. CT increased its stake in shares of Kinder Morgan by 2.8% during the fourth quarter. Halsey Associates Inc. CT now owns 437,120 shares of the pipeline company’s stock valued at $6,723,000 after acquiring an additional 12,017 shares during the period. Somerset Group LLC acquired a new position in Kinder Morgan in the first quarter worth approximately $200,000. Jackson Hole Capital Partners LLC grew its position in Kinder Morgan by 9.8% in the first quarter. Jackson Hole Capital Partners LLC now owns 94,491 shares of the pipeline company’s stock worth $1,891,000 after buying an additional 8,415 shares during the last quarter. Chickasaw Capital Management LLC grew its position in Kinder Morgan by 244.4% in the first quarter. Chickasaw Capital Management LLC now owns 6,358,870 shares of the pipeline company’s stock worth $127,241,000 after buying an additional 4,512,730 shares during the last quarter. Finally, Gideon Capital Advisors Inc. boosted its stake in Kinder Morgan by 102.8% in the 4th quarter. Gideon Capital Advisors Inc. now owns 27,433 shares of the pipeline company’s stock worth $422,000 after purchasing an additional 13,905 shares during the period. Institutional investors own 62.58% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

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Analyst Recommendations for Kinder Morgan (NYSE:KMI)

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