Zacks Investment Research downgraded shares of Kinder Morgan (NYSE:KMI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Kinder Morgan has the largest network of natural gas pipeline in North America that spreads over almost 70,000 miles. Most importantly, the company’s midstream properties are linked to all the prospective plays in the United States that are rich in natural gas. These extensive pipeline networks, for which billions of dollars have been invested to date, have been providing Kinder Morgan with stable fee-based revenues. In fact, the company generated majority of its cash flow in 2017 from stable fee-based contracts. However, the company’s total debt now stands higher than equity capital, reflecting balance sheet weakness. Moreover, one-year pricing chart shows that Kinder Morgan underperformed the industry. During the aforesaid period, the stock lost 24.7% against the 13.6% decline of the broader industry.”
A number of other analysts have also weighed in on KMI. Credit Suisse Group started coverage on Kinder Morgan in a research note on Thursday, January 4th. They issued an outperform rating and a $23.00 target price on the stock. Bank of America began coverage on Kinder Morgan in a research report on Tuesday, January 9th. They set a neutral rating on the stock. Wells Fargo reissued a market perform rating on shares of Kinder Morgan in a research report on Thursday, January 11th. Argus raised Kinder Morgan from a hold rating to a buy rating in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their price target on Kinder Morgan from $24.00 to $23.00 and set an overweight rating on the stock in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $22.37.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Kinder Morgan had a return on equity of 4.38% and a net margin of 1.34%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the firm posted $0.08 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. sell-side analysts expect that Kinder Morgan will post 0.85 EPS for the current year.
In related news, Director William A. Smith acquired 5,500 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average price of $19.52 per share, with a total value of $107,360.00. Following the completion of the transaction, the director now directly owns 14,587 shares in the company, valued at $284,738.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.99% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of KMI. New York State Common Retirement Fund boosted its position in Kinder Morgan by 1.3% during the third quarter. New York State Common Retirement Fund now owns 5,119,800 shares of the pipeline company’s stock valued at $98,198,000 after purchasing an additional 65,640 shares in the last quarter. Cipher Capital LP boosted its position in Kinder Morgan by 51.3% during the third quarter. Cipher Capital LP now owns 88,172 shares of the pipeline company’s stock valued at $1,691,000 after purchasing an additional 29,904 shares in the last quarter. AE Wealth Management LLC acquired a new stake in Kinder Morgan in the third quarter worth about $238,000. Point View Wealth Management Inc. acquired a new stake in Kinder Morgan in the third quarter worth about $281,000. Finally, Pacer Advisors Inc. boosted its holdings in Kinder Morgan by 10.4% in the third quarter. Pacer Advisors Inc. now owns 50,287 shares of the pipeline company’s stock worth $965,000 after acquiring an additional 4,748 shares in the last quarter. 62.55% of the stock is currently owned by institutional investors.
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Kinder Morgan Company Profile
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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