Analysts at Zacks Investment Research upgraded shares of Kinder Morgan Inc. (NYSE: KMI) from Hold to Buy today. The company currently has a rating of Buy on the stock. A number of other analysts have issued reports on the stock in recent days, and the company has earned a consensus one-year price target of $23.44, above the opening price of $21.98, a difference of 10.71 percent. Kinder Morgan Inc. stock has a 52-week high of $32.89. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Kinder Morgan Inc. (NYSE: KMI) shares last traded at $21.88, a dip of $0.02 from the previous closing price. Opening at $21.98, they ranged from $21.87 and $22.14 throughout the day.
Kinder Morgan Inc. (NYSE: KMI) now has a market cap of 48.84B.
14,542,448 shares crossed the trading desk yesterday, 35 percent lower than the average, out of a total float 1,888,947,000. Momentum traders often use increases in trading volume to pinpoint large volume accumulation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re researching.
By following the activity of these professional investors—and the moving averages they influence—it allows for traders to make more effective choices on trades.
Trades for Kinder Morgan Inc. (NYSE: KMI) have ranged from $11.20 – 32.89, and the stock now has a 50-day MA of $21.55 and 200-day MA of $19.18. Today’s last price is 0.33% lower than the 52 week high of $32.89.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings at least 25% or more for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.