Wells Fargo & Company Forecasts Strong Price Appreciation for Kinder Morgan (NYSE:KMI) Stock

Kinder Morgan (NYSE:KMI) had its price target lifted by investment analysts at Wells Fargo & Company from $27.00 to $30.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.70% from the stock’s current price.

KMI has been the subject of a number of other reports. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday, October 18th. Bank of America assumed coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Barclays raised their price target on shares of Kinder Morgan from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $26.62 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $26.29 and a 200 day simple moving average of $22.81. Kinder Morgan has a twelve month low of $16.47 and a twelve month high of $28.81. The company has a market capitalization of $59.14 billion, a PE ratio of 23.35, a P/E/G ratio of 3.88 and a beta of 0.95.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. On average, sell-side analysts forecast that Kinder Morgan will post 1.18 EPS for the current year.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy W. Chronis acquired 2,241 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the purchase, the director now owns 23,995 shares in the company, valued at $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 727,263 shares of company stock valued at $18,075,634. 12.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in shares of Kinder Morgan by 1.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 187,527 shares of the pipeline company’s stock valued at $3,726,000 after buying an additional 2,549 shares in the last quarter. &PARTNERS raised its stake in shares of Kinder Morgan by 208.0% during the second quarter. &PARTNERS now owns 51,273 shares of the pipeline company’s stock worth $1,019,000 after acquiring an additional 34,628 shares in the last quarter. L. Roy Papp & Associates LLP lifted its holdings in shares of Kinder Morgan by 22.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 27,327 shares of the pipeline company’s stock worth $543,000 after acquiring an additional 5,072 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in shares of Kinder Morgan by 1.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after purchasing an additional 545 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of Kinder Morgan during the 2nd quarter valued at $54,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Company Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.