Kinder Morgan (NYSE:KMI) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Kinder Morgan (NYSE:KMI) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01), RTT News reports. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the company earned $0.24 EPS. Kinder Morgan’s revenue for the quarter was up 2.0% compared to the same quarter last year. Kinder Morgan updated its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Performance

Shares of NYSE KMI traded up $0.53 during trading hours on Friday, reaching $21.58. The stock had a trading volume of 9,433,016 shares, compared to its average volume of 13,928,825. The firm has a market cap of $47.89 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 3.24 and a beta of 0.93. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. Kinder Morgan has a fifty-two week low of $15.89 and a fifty-two week high of $21.79. The firm has a 50-day moving average of $19.73 and a 200-day moving average of $18.46.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.33%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Analysts Set New Price Targets

Several brokerages have weighed in on KMI. UBS Group upped their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday. Scotiabank upped their price target on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Truist Financial reiterated a “hold” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.63.

Insider Activity at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the sale, the director now directly owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the sale, the vice president now directly owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the sale, the director now directly owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

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.