Kinder Morgan (NYSE:KMI) Issues Earnings Results

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02), Briefing.com reports. 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 analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. Kinder Morgan updated its FY24 guidance to $1.17 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Up 0.7 %

Shares of NYSE KMI traded up $0.17 during midday trading on Wednesday, hitting $24.93. The company’s stock had a trading volume of 16,934,223 shares, compared to its average volume of 13,829,604. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The business’s fifty day simple moving average is $21.88 and its two-hundred day simple moving average is $20.36. Kinder Morgan has a 1 year low of $15.91 and a 1 year high of $25.06.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KMI shares. JPMorgan Chase & Co. upped their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group raised their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays upped their price objective on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $27.00 in a research note on Friday, October 11th. Finally, Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Insider Buying and Selling

In related news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares in the company, valued at approximately $534,841.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan 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 sale, 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 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 valued at $3,121,891 in the last ninety days. Company 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.