Kinder Morgan (NYSE:KMI) Updates FY 2024 Earnings Guidance

Kinder Morgan (NYSE:KMI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.220-1.220 for the period, compared to the consensus estimate of 1.240. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.17 EPS.

Kinder Morgan Stock Up 0.7 %

NYSE:KMI traded up $0.17 on Wednesday, reaching $24.93. The stock had a trading volume of 16,934,223 shares, compared to its average volume of 13,829,604. Kinder Morgan has a 12-month low of $15.91 and a 12-month high of $25.06. The company has a 50-day moving average of $21.88 and a 200 day moving average of $20.36. 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 stock has a market cap of $55.33 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results 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 net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. On average, research analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on KMI shares. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, July 19th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target for the company in a research report on Monday, September 16th. Bank of America upgraded Kinder Morgan from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Friday, October 11th. 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 report on Wednesday, September 11th. Finally, Stifel Nicolaus lifted their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $23.36.

Insider Activity

In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 100,000 shares of the firm’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 transaction of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares in the company, valued at $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. Insiders have sold a total of 148,311 shares of company stock worth $3,121,891 over the last three months. Corporate insiders own 12.64% of the company’s stock.

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.