Wells Fargo & Company Issues Positive Forecast for Kinder Morgan (NYSE:KMI) Stock Price

Kinder Morgan (NYSE:KMI) had its target price upped by research analysts at Wells Fargo & Company from $27.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.33% from the company’s current price.

Several other equities research analysts also recently issued reports on KMI. Morgan Stanley set a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, October 18th. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus upped their price target on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Kinder Morgan Stock Performance

KMI stock opened at $26.24 on Wednesday. Kinder Morgan has a 1-year low of $16.47 and a 1-year high of $28.81. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The firm has a market cap of $58.30 billion, a PE ratio of 23.02, a P/E/G ratio of 3.88 and a beta of 0.95. The business’s 50-day moving average price is $26.39 and its two-hundred day moving average price is $22.86.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the firm earned $0.25 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, research analysts forecast that Kinder Morgan will post 1.18 earnings per share for the current year.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total value of $492,120.00. Following the completion of the sale, the president now directly owns 879,652 shares of the company’s stock, valued at $24,049,685.68. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy W. Chronis bought 2,241 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the acquisition, the director now directly owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 727,263 shares of company stock valued at $18,075,634 in the last quarter. Company insiders own 12.64% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Kinder Morgan by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after buying an additional 257,658 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Kinder Morgan by 0.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock worth $233,050,000 after acquiring an additional 69,307 shares during the last quarter. First Pacific Advisors LP boosted its holdings in shares of Kinder Morgan by 2.0% during the second quarter. First Pacific Advisors LP now owns 8,198,954 shares of the pipeline company’s stock worth $162,913,000 after acquiring an additional 163,294 shares during the period. Barclays PLC grew its position in shares of Kinder Morgan by 39.9% in the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Kinder Morgan by 20.6% during the second quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock worth $154,409,000 after purchasing an additional 1,328,082 shares during the period. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Company Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.