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 EPS guidance of 1.220-1.220 for the period, compared to the consensus EPS estimate of 1.240. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.17 EPS.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday. Bank of America started coverage on Kinder Morgan in a research report on Thursday. They issued a “buy” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Scotiabank upped their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.09.

Kinder Morgan Price Performance

NYSE:KMI opened at $24.82 on Friday. 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 50 day moving average of $22.04 and a two-hundred day moving average of $20.42. The firm has a market cap of $55.09 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. Kinder Morgan has a 12 month low of $15.91 and a 12 month high of $25.43.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. On average, analysts expect that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the company’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 sale, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is 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.