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 guidance of 1.220-1.220 for the period, compared to the consensus earnings per share estimate of 1.210. The company issued revenue guidance of -.

Kinder Morgan Price Performance

KMI opened at $21.49 on Friday. The firm has a market cap of $47.69 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.25 and a beta of 0.93. Kinder Morgan has a 1 year low of $15.89 and a 1 year high of $21.79. The stock’s 50 day simple moving average is $19.77 and its 200 day simple moving average is $18.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.38.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. Kinder Morgan’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. As a group, analysts predict that Kinder Morgan will post 1.21 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Analyst Ratings Changes

Several analysts recently commented on KMI shares. Truist Financial reaffirmed 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. Argus raised Kinder Morgan from a hold rating to a buy rating and set a $24.00 price objective for the company in a report on Friday. Wells Fargo & Company raised Kinder Morgan from an equal weight rating to an overweight rating and lifted their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. Tudor Pickering raised Kinder Morgan to a strong-buy rating in a report on Thursday, May 30th. Finally, Scotiabank boosted their price target on Kinder Morgan from $19.00 to $21.00 and gave the company a sector perform rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $21.63.

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of the business’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 transaction, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael C. Morgan sold 230,000 shares of the business’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 transaction, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares in the company, valued at $5,116,612.75. The disclosure for this sale can be found here. Company 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.