Kinder Morgan (NYSE:KMI) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several research firms have recently weighed in on KMI. Stifel Nicolaus boosted their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 19th. Wells Fargo & Company increased their target price on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday. Finally, 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 note on Friday, September 13th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.27.

Kinder Morgan Trading Up 0.5 %

Shares of Kinder Morgan stock opened at $24.95 on Friday. The firm’s 50 day simple moving average is $22.12 and its two-hundred day simple moving average is $20.47. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 3.27 and a beta of 0.93. Kinder Morgan has a 12-month low of $15.91 and a 12-month high of $25.43. 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 (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts predict that Kinder Morgan will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.61%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the president now 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 SEC, which is accessible through this link. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, the vice president now owns 307,409 shares in the company, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. 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 valued at $3,121,891 in the last quarter. 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.