Kinder Morgan (NYSE:KMI) Issues FY24 Earnings Guidance

Kinder Morgan (NYSE:KMI) issued an update on its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.17 for the period, compared to the consensus estimate of $1.19. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Up 0.7 %

Shares of NYSE KMI traded up $0.17 during mid-day trading on Wednesday, reaching $24.93. 17,177,314 shares of the company traded hands, compared to its average volume of 13,829,604. The stock has a market cap of $55.33 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. Kinder Morgan has a fifty-two week low of $15.91 and a fifty-two week high of $25.06. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The company’s fifty day moving average is $21.88 and its two-hundred day moving average is $20.36.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. On average, analysts expect that Kinder Morgan will post 1.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMI. Truist Financial upped their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Scotiabank lifted their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Stifel Nicolaus upped their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target on the stock in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.36.

Insider Buying and Selling at Kinder Morgan

In related news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Company Profile

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.