B of A Upgrades Kinder Morgan: Analysts Forecast Minor Price Drop

Fintel reports that on October 11, 2024, B of A Securities upgraded their outlook for Kinder Morgan (LSE:0JR2) from Neutral to Buy.

Analyst Price Target Indicates Potential Decline

As of September 25, 2024, the average one-year price target for Kinder Morgan is 22.72 GBX/share. Predictions range from a low of 19.00 GBX to a high of 25.99 GBX. Notably, the average price target suggests a decline of 4.00% from its most recent closing price of 23.67 GBX/share.

Kinder Morgan’s Financial Growth Projection

The projected annual revenue for Kinder Morgan is 20,324MM, representing a significant increase of 32.94%. Additionally, the projected annual non-GAAP EPS is 1.19.

Fund Sentiment Trends

Currently, there are 2,182 funds or institutions reporting positions in Kinder Morgan. This marks an increase of 48 owners, or 2.25%, from the previous quarter. The average portfolio weight of all funds dedicated to 0JR2 stands at 0.42%, which has risen by 4.12%. Over the past three months, total shares owned by institutions have grown by 5.51% to reach 1,588,063K shares.

Institutional Shareholder Activity

Bank of America currently holds 63,408K shares, representing 2.86% ownership of the company. This reflects a decrease from its previous holding of 63,900K shares, a reduction of 0.78%. Moreover, the firm has lowered its portfolio allocation in 0JR2 by 74.80% over the last quarter.

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) has increased its holdings to 59,676K shares, or 2.69% ownership, up from 59,141K shares, marking an increase of 0.90%. The firm has raised its portfolio allocation in 0JR2 by 6.31% over the last quarter.

The Energy Select Sector SPDR Fund (XLE) owns 53,452K shares (2.41% ownership), reflecting an increase from earlier holdings of 46,196K shares, a rise of 13.57%. Their portfolio allocation in 0JR2 has jumped by 31.43% during the past quarter.

Geode Capital Management has increased its shares in Kinder Morgan to 50,845K, representing 2.29% ownership, up from 42,406K shares, an increase of 16.60%. However, this firm decreased its portfolio allocation in 0JR2 by 35.60% in recent months.

The Vanguard 500 Index Fund Investor Shares (VFINX) holds 49,558K shares or 2.23% ownership, which is an increase from 48,736K shares, amounting to a growth of 1.66%. They have also raised their portfolio allocation in 0JR2 by 4.29% over the last quarter.

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This story originally appeared on Fintel.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.