Kinder Morgan (NYSE:KMI) Share Price Breaks Below Two Hundred Day Moving Average Following Analyst Downgrade

Shares of Kinder Morgan, Inc. (NYSE:KMI) crossed below its two hundred day moving average during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $40.00 to $39.00. The stock has a two hundred day moving average of $32.10 and traded as low as $31.14. Morgan Stanley currently has an equal weight rating on the stock. Kinder Morgan shares last traded at $31.5260, with a volume of 21,489,182 shares traded.

A number of other analysts have also issued reports on KMI. Jefferies Financial Group boosted their price objective on Kinder Morgan from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, October 22nd. Weiss Ratings raised Kinder Morgan from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Scotiabank increased their price objective on Kinder Morgan from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 27th. BMO Capital Markets raised their price target on Kinder Morgan from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Melius Research assumed coverage on shares of Kinder Morgan in a report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $37.15.

Insider Activity

In related news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president owned 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kinder Morgan

A number of hedge funds have recently modified their holdings of the business. Oak Family Advisors LLC purchased a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $3,627,000. State Street Corp grew its stake in Kinder Morgan by 4.3% in the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock valued at $4,183,704,000 after acquiring an additional 5,361,578 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth approximately $3,406,000. Envestnet Asset Management Inc. raised its holdings in shares of Kinder Morgan by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 5,122,523 shares of the pipeline company’s stock worth $163,766,000 after acquiring an additional 38,739 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kinder Morgan by 10.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 438,959 shares of the pipeline company’s stock valued at $14,034,000 after buying an additional 41,563 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Trading Down 4.1%

The business’s fifty day moving average is $32.15 and its 200-day moving average is $32.10. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $70.23 billion, a PE ratio of 19.46, a P/E/G ratio of 2.30 and a beta of 0.58.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.57 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.2975 per share. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 3.8%. Kinder Morgan’s payout ratio is presently 73.46%.

Kinder Morgan Company Profile

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.