Kinder Morgan (NYSE:KMI) Releases Earnings Results, Misses Estimates By $0.02 EPS

Kinder Morgan (NYSE:KMI) issued its quarterly earnings data 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 firm 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 revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. 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 0.5 %

Shares of Kinder Morgan stock opened at $24.70 on Friday. The stock has a market capitalization of $54.82 billion, a PE ratio of 22.56, a P/E/G ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company’s fifty day simple moving average is $22.04 and its 200-day simple moving average is $20.42. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.43.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.66%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Thomas A. Martin sold 100,000 shares of the business’s 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 sale, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the company’s 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 in the company, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock worth $3,121,891 over the last three months. 12.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KMI shares. Morgan Stanley raised shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target for the company in a research note on Monday, September 16th. UBS Group lifted their target price on Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Truist Financial increased their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday. Scotiabank upped their target price on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada boosted their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.