Kinder Morgan, Inc. (NYSE:KMI) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $17.47 and last traded at $17.67, with a volume of 9152100 shares. The stock had previously closed at $17.91.
Several research firms recently issued reports on KMI. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 target price on shares of Kinder Morgan in a research report on Wednesday. BidaskClub cut shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus set a $25.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price target on shares of Kinder Morgan in a research report on Thursday, July 20th. Finally, Mizuho initiated coverage on shares of Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $23.03.
The stock has a market cap of $38,992.37, a price-to-earnings ratio of 26.86, a PEG ratio of 1.36 and a beta of 0.65. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the business earned ($0.10) earnings per share. Kinder Morgan’s revenue for the quarter was down 1.5% compared to the same quarter last year. equities research analysts anticipate that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 annualized dividend and a yield of 2.87%. Kinder Morgan’s payout ratio is presently 89.29%.
Kinder Morgan declared that its Board of Directors has authorized a share repurchase plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of Kinder Morgan by 47.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock valued at $6,832,000 after purchasing an additional 114,124 shares during the period. Principal Financial Group Inc. grew its stake in shares of Kinder Morgan by 31.1% in the 2nd quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock valued at $97,179,000 after buying an additional 1,201,722 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at approximately $1,078,000. Brookfield Asset Management Inc. grew its stake in shares of Kinder Morgan by 10.4% in the 1st quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock valued at $226,019,000 after buying an additional 976,320 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in shares of Kinder Morgan by 4.0% in the 2nd quarter. Norinchukin Bank The now owns 232,006 shares of the pipeline company’s stock valued at $4,445,000 after buying an additional 8,908 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.
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About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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