Kinder Morgan (NYSE:KMI) Issues Earnings Results

Kinder Morgan (NYSE:KMI) released its quarterly earnings data on Wednesday. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02), Briefing.com reports. The company 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 company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company 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 Stock Up 0.1 %

Shares of Kinder Morgan stock traded up $0.03 on Friday, reaching $24.85. 3,176,965 shares of the company were exchanged, compared to its average volume of 13,831,386. Kinder Morgan has a one year low of $15.91 and a one year 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. The company has a 50-day moving average of $22.04 and a 200 day moving average of $20.42. The company has a market capitalization of $55.15 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 3.27 and a beta of 0.93.

Kinder Morgan Announces Dividend

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

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares in the company, valued at $534,841.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial increased their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday. UBS Group boosted their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays raised their price objective 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, Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, July 19th. 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 a consensus rating of “Moderate Buy” and an average 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.