JPMorgan Chase & Co. Lowers Kinder Morgan (KMI) to Neutral

Kinder Morgan (NYSE:KMI) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, March 22nd, MarketBeat.com reports. They currently have a $22.00 target price on the pipeline company’s stock, up from their prior target price of $21.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.17% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of Kinder Morgan from a “c” rating to a “b-” rating in a research report on Wednesday, January 16th. Jefferies Financial Group upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Mizuho started coverage on shares of Kinder Morgan in a research note on Wednesday, November 28th. They issued a “buy” rating and a $22.00 target price on the stock. Zacks Investment Research upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, March 13th. Finally, Argus restated a “buy” rating and issued a $23.00 target price on shares of Kinder Morgan in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Kinder Morgan presently has an average rating of “Buy” and a consensus target price of $21.32.

Kinder Morgan stock traded down $0.03 during trading on Friday, reaching $19.79. 8,693,073 shares of the company’s stock were exchanged, compared to its average volume of 15,440,419. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. Kinder Morgan has a 52-week low of $14.62 and a 52-week high of $20.44. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.63 and a beta of 0.96.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 16th. The pipeline company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kinder Morgan had a net margin of 11.38% and a return on equity of 5.86%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. Analysts forecast that Kinder Morgan will post 1.01 earnings per share for the current year.

In other Kinder Morgan news, insider Richard D. Kinder acquired 400,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $7,196,000.00. Following the completion of the purchase, the insider now directly owns 236,177,613 shares in the company, valued at $4,248,835,257.87. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard D. Kinder acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were acquired at an average price of $18.05 per share, for a total transaction of $1,805,000.00. Following the purchase, the chairman now owns 235,427,613 shares of the company’s stock, valued at $4,249,468,414.65. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,090,912 shares of company stock worth $58,877,514. 13.95% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Kinder Morgan in the fourth quarter valued at approximately $299,180,000. BlackRock Inc. boosted its holdings in shares of Kinder Morgan by 7.4% in the fourth quarter. BlackRock Inc. now owns 136,557,027 shares of the pipeline company’s stock valued at $2,100,249,000 after acquiring an additional 9,360,355 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Kinder Morgan by 1,169.3% in the fourth quarter. Millennium Management LLC now owns 9,022,925 shares of the pipeline company’s stock valued at $138,773,000 after acquiring an additional 8,312,075 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Kinder Morgan by 1,497.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,112,727 shares of the pipeline company’s stock valued at $462,000 after acquiring an additional 6,667,564 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Kinder Morgan in the third quarter valued at approximately $103,969,000. Institutional investors own 64.72% of the company’s stock.

Kinder Morgan Company Profile

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.

Further Reading: Momentum Investing

Analyst Recommendations for Kinder Morgan (NYSE:KMI)

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