Kinder Morgan Upgraded by Goldman Sachs to Conviction-Buy (KMI)

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Goldman Sachs upgraded shares of Kinder Morgan (NYSE:KMI) from a buy rating to a conviction-buy rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has $44.00 price target on the stock.

In other Kinder Morgan news, CEO Richard Kinder purchased 100,000 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $32.36 per share, for a total transaction of $3,236,000.00. Following the acquisition, the chief executive officer now directly owns 231,987,275 shares in the company, valued at approximately $7,507,108,219. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Kinder Morgan in a research note on Wednesday, April 23rd. They now have a $35.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Kinder Morgan to $40.00 in a research note on Thursday, April 17th. Finally, analysts at Barclays reiterated an overweight rating on shares of Kinder Morgan in a research note on Thursday, April 17th. They now have a $38.00 price target on the stock. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $38.29.

Shares of Kinder Morgan (NYSE:KMI) opened at 33.45 on Thursday. Kinder Morgan has a 1-year low of $30.81 and a 1-year high of $41.49. The stock has a 50-day moving average of $32.82 and a 200-day moving average of $33.79. The company has a market cap of $34.383 billion and a price-to-earnings ratio of 29.27.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.06. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.86 billion. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. Analysts expect that Kinder Morgan will post $1.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, May 16th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Monday, April 28th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.41.

Kinder Morgan, Inc (NYSE:KMI) owns and manages a diversified portfolio of energy transportation and storage assets.

To view Goldman Sachs’ full report, visit Goldman Sachs’ official website.

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