Analysts at Zacks Investment Research upgraded shares of Kinder Morgan Inc. (NYSE: KMI) from Hold to Buy today.With a rating of Buy on the shares, Kinder Morgan Inc. has a 52-week high of $32.89. A number of other analysts have issued reports on the stock recently, and Kinder Morgan Inc. has earned a consensus one-year price target of $23.44, higher than the opening price of $21.98. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Shares of Kinder Morgan Inc. (NYSE: KMI) opened at $21.98 yesterday and traded in a range between, $21.87 and $22.07, and last traded at $21.99, which is a spike of $0.09 over the previous closing price.
Kinder Morgan Inc. (NYSE: KMI) now has a market cap of 49.09B.
2,045,164 shares traded hands yesterday, 43 percent below the norm, out of a total float 1,888,947,000. Swing traders often use swings in trading volume to determine heavy volume aggregation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
While higher trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
Traders can make well planned trades when they track the trading habits of professional investors.
Trades for Kinder Morgan Inc. (NYSE: KMI) have ranged from $11.20 – 32.89, and the stock now has a 50-day MA of $21.48 and 200-day MA of $19.15. 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 identify companies that have increased their earnings at least 25% or more for the past 3 years.
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