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

Kinder Morgan (NYSE:KMI) issued its earnings results 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 company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $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 Stock Down 0.4 %

Shares of Kinder Morgan stock opened at $24.82 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.43. The business’s fifty day moving average price is $22.04 and its two-hundred day moving average price is $20.42. The company has a market capitalization of $55.09 billion, a P/E ratio of 22.56, a PEG ratio of 3.27 and a beta of 0.93.

Kinder Morgan Dividend Announcement

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 issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Wall Street Analysts Forecast Growth

KMI has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price objective on Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Scotiabank boosted their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, 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 report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.09.

Insider Transactions at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan 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 in the company, valued at $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was 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 $6,455,589. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is currently owned by corporate insiders.

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.