Kinder Morgan Inc (NYSE:KMI) shares have traded down today after some negative OPEC news & credit ratings worries. However, all is not doom and gloom for the Houston headquartered energy infrastructure company.
Kinder Morgan Inc (NYSE:KMI), moments ago, released their 2016 financial expectations report, which has several interesting and quite positive notes in it. In their third quarter earnings call, the company noted that they are expecting 2016 growth to come in at 6 to 10% over its 2015 targetted dividend of $2.00 per share.
Kinder Morgan Inc (NYSE:KMI) also will be announcing their capital funding plan and dividend policy within the next few days, and the company announced that their 2016 cash flow is sufficient to fund their growth capital requirements for the year.
“KMI will construct its 2016 plan to maintain an investment grade rating with all three agencies,” the company stated. “Further KMI does not plan to issue equity at current prices.”
The stock is down 7.68% or $1.48 following the news, hitting $17.78 per share. About 58.91 million shares traded hands or 129.85% up from the average. KMI has declined 55.34% since May 1, 2015 and is downtrending. It has underperformed the S&P500 by 52.56%.
From a total of 8 analysts covering Kinder Morgan (NYSE:KMI) stock, 5 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 63% of the ratings are positive. The highest target price is $44 while the lowest target price is $29. The mean of all analyst targets is $36.22 which is 103.71% above today’s ($17.78) stock price. Kinder Morgan was the topic of 18 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Argus Research downgraded shares on December 3 to a “Hold” rating. Bank of America maintained shares with a”Buy” rating and a $44 target share price in their report from a September 28. Barclays Capital maintained KMI stock in a recent report from October 22 with a “Overweight” rating. Finally, Credit Suisse downgraded the stock to a “Neutral” rating in a report they issued on an October 22.
The institutional sentiment decreased to 1.18 in Q2 2015. It’s down 0.15, from 1.33 in 2015Q1. The ratio turned negative, as 86 funds sold all their Kinder Morgan Inc shares they owned while 413 reduced their positions. 106 funds bought stakes while 483 increased their total positions. Institutions now own 1.17 billion shares which is 2.97% less than the previous share count of 1.21 billion in 2015Q1.
Highstar Capital Lp holds 100% of its total portfolio in Kinder Morgan Inc, equating to 68.87 million shares. Travelers Companies Inc. owns 1.64 million shares representing 16.62% of their total US portfolio. Moreover, Rare Infrastructure Ltd has 14.64% of their total portfolio invested in the company, equating to 9.63 million shares. The New York-based C V Starr & Co Inc has a total of 13.21% of their portfolio invested in the stock. Endurance Wealth Management Inc., a Rhode Island-based fund reported 1.61 million shares owned.
Kinder Morgan, Inc. is an energy infrastructure and energy firm in North America. The company has a market cap of $43.20 billion. The Firm operates through six divisions: Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada and Other. It has 33.99 P/E ratio. The Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.