Kinder Morgan Receives Sector Perform Rating from Scotiabank

On Friday, analysts at Scotiabank announced the initiation of coverage on Kinder Morgan (NYSE: KMI) in a recent research report. They assigned a "sector perform" rating to the company, alongside a price target of $26.00 per share. This target implies a potential decline of approximately 8.06% based on the current stock price.

In addition to Scotiabank, several other financial institutions have recently commented on Kinder Morgan's stock. For instance, on October 17th, Bank of America began coverage and maintained a "buy" rating with a price target of $27.00. Furthermore, Royal Bank of Canada announced an increase in their price objective for Kinder Morgan from $24.00 to $26.00, reiterating a "sector perform" designation on October 22nd.

Barclays also revised their price target on Kinder Morgan from $24.00 to $27.00 and classified the stock as "equal weight" in a report released on December 17th. Moreover, Wells Fargo & Company raised their target price from $27.00 to $30.00, reflecting an "overweight" rating on December 18th. Lastly, UBS Group increased their price objective from $33.00 to $34.00 while maintaining a "buy" rating as of December 6th.

According to MarketBeat, the consensus among analysts is currently a "Moderate Buy" for Kinder Morgan. The stock holds eight hold ratings, five buy ratings, and one strong buy rating, with the average target price standing at $26.67.

Kinder Morgan Trading Activity

On Friday, shares of Kinder Morgan (NYSE: KMI) opened at $28.28. The company has a 50-day moving average of $27.23 and a 200-day moving average of $23.68. Financial metrics indicate a current ratio of 0.46, a quick ratio of 0.35, and a debt-to-equity ratio of 0.95. With a market capitalization of $62.83 billion, it also shows a P/E ratio of 24.81 and a PEG ratio of 3.87. Over the past year, Kinder Morgan's stock has experienced a low of $16.47 and a high of $28.81.

On October 16th, Kinder Morgan disclosed its earnings results for the previous quarter. The company reported earnings of $0.25 per share, missing analysts' expectations of $0.27 per share by $0.02. The quarterly revenue totaled $3.70 billion, falling short of the anticipated $4.05 billion. Additionally, Kinder Morgan's revenue saw a decline of 5.3% year-over-year, matching their earnings of $0.25 in the same quarter the previous year. Analysts forecast that Kinder Morgan will generate an EPS of 1.18 for the current fiscal year.

Insider Transactions

Recent insider trading has also caught attention. On October 21st, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock at an average price of $24.75, totaling approximately $17.08 million. Following this transaction, Shaper owns about 6.81 million shares valued at around $168.54 million, marking a 9.20% decrease in their holdings.

Conversely, Director Amy W. Chronis purchased 2,241 shares at an average price of $24.89 on November 5th, amounting to roughly $55,778. Following this acquisition, Chronis now holds 23,995 shares in Kinder Morgan, reflecting a 10.30% increase in ownership.

Institutional Investors

In recent months, institutional investors have adjusted their positions in Kinder Morgan. Modus Advisors LLC acquired a new stake valued at approximately $27,000 in the fourth quarter, while Northwest Investment Counselors LLC purchased a position worth $28,000 in the third quarter. Additionally, HWG Holdings LP acquired shares valued at about $30,000 in the second quarter.

Planning Capital Management Corp increased its position by 143.6% in the third quarter and currently owns 1,352 shares worth $30,000 after adding 797 shares. HM Payson & Co. also expanded their holdings by 401.8% during this period, now possessing 1,430 shares valued at $32,000. Overall, institutional investors own about 62.52% of Kinder Morgan's stock.

Company Overview

Kinder Morgan, Inc. operates primarily as an energy infrastructure firm in North America. Its operations are segmented into Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines division manages interstate and intrastate natural gas pipelines and storage, along with natural gas gathering, processing, and treating facilities.

Kinder, Morgan, Scotiabank