Kinder Morgan (NYSE:KMI) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02), Briefing.com reports. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. Kinder Morgan updated its FY24 guidance to $1.17 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Trading Down 0.4 %

NYSE KMI opened at $24.82 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.43. The firm’s fifty day simple moving average is $22.04 and its 200-day simple moving average is $20.42. The company has a market capitalization of $55.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Activity at Kinder Morgan

In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now owns 916,773 shares in the company, valued at $19,261,400.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,311 shares of company stock valued at $3,121,891. Insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America assumed coverage on Kinder Morgan in a research note on Thursday. They set a “buy” rating and a $27.00 price objective for the company. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target for the company in a research report on Monday, September 16th. Royal Bank of Canada boosted their price objective on Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Wednesday. Barclays raised their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.09.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.