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

Kinder Morgan (NYSE:KMI) announced its quarterly earnings data on Wednesday. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02), Briefing.com reports. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company 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 Price Performance

Shares of NYSE:KMI traded down $0.13 on Friday, hitting $24.69. The company’s stock had a trading volume of 5,171,738 shares, compared to its average volume of 13,841,261. The company has a market capitalization of $54.80 billion, a PE ratio of 22.56, a PEG 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 has a 50-day simple moving average of $22.04 and a 200 day simple moving average of $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 paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.66%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio is 104.55%.

Insider Transactions at Kinder Morgan

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 value of $2,101,000.00. Following the transaction, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares in the company, valued at approximately $534,841.25. This represents a 0.00 % decrease in their ownership of the stock. 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. 12.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial raised their target price on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday. Barclays upped their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Stifel Nicolaus lifted their price objective on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.09.

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.