Kinder Morgan (NYSE:KMI) Downgraded to “Market Perform” at BMO Capital Markets

BMO Capital Markets lowered shares of Kinder Morgan (NYSE:KMI) from an outperform rating to a market perform rating in a research note published on Monday morning, 24/7 WallStreet reports. The firm currently has $22.00 target price on the pipeline company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Kinder Morgan from a buy rating to a hold rating and increased their price objective for the stock from $19.00 to $20.00 in a research note on Monday, April 1st. Stifel Nicolaus downgraded shares of Kinder Morgan from a buy rating to a hold rating and set a $22.00 price objective on the stock. in a research note on Monday, June 17th. Johnson Rice started coverage on shares of Kinder Morgan in a research note on Thursday, May 30th. They set a hold rating and a $21.00 price objective on the stock. Zacks Investment Research reiterated a buy rating and set a $23.00 price objective on shares of Kinder Morgan in a research note on Saturday, June 29th. Finally, Raymond James downgraded shares of Kinder Morgan from an outperform rating to a market perform rating and set a $20.72 price objective on the stock. in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $21.75.

Shares of Kinder Morgan stock opened at $20.77 on Monday. The firm has a market capitalization of $46.84 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.33. Kinder Morgan has a 12-month low of $14.62 and a 12-month high of $21.50. The business’s 50-day moving average price is $20.87.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, research analysts forecast that Kinder Morgan will post 0.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.81%. Kinder Morgan’s dividend payout ratio (DPR) is currently 112.36%.

In related news, insider Richard D. Kinder bought 177,542 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $19.43 per share, with a total value of $3,449,641.06. Following the completion of the acquisition, the insider now owns 240,579,496 shares of the company’s stock, valued at $4,674,459,607.28. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Richard D. Kinder bought 300,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $19.68 per share, with a total value of $5,904,000.00. Following the acquisition, the insider now directly owns 241,179,496 shares of the company’s stock, valued at approximately $4,746,412,481.28. The disclosure for this purchase can be found here. Insiders bought 977,542 shares of company stock valued at $19,106,641 in the last three months. Company insiders own 13.95% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Founders Capital Management lifted its holdings in shares of Kinder Morgan by 224.9% in the first quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 850 shares during the last quarter. Citizens Financial Group Inc RI raised its holdings in Kinder Morgan by 119.2% in the 1st quarter. Citizens Financial Group Inc RI now owns 1,256 shares of the pipeline company’s stock valued at $25,000 after buying an additional 683 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in Kinder Morgan in the 1st quarter valued at approximately $30,000. Hanson McClain Inc. raised its holdings in Kinder Morgan by 606.6% in the 1st quarter. Hanson McClain Inc. now owns 1,505 shares of the pipeline company’s stock valued at $30,000 after buying an additional 1,292 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in Kinder Morgan in the 1st quarter valued at approximately $31,000. 62.53% of the stock is owned by hedge funds and other institutional investors.

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.

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