Kinder Morgan (NYSE:KMI) Trading Down 1.7% After Earnings Miss

Kinder Morgan, Inc. (NYSE:KMI)’s stock price traded down 1.7% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $30.12 and last traded at $30.27. 8,220,805 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 14,020,573 shares. The stock had previously closed at $30.78.

The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 3.80%. Kinder Morgan’s payout ratio is presently 100.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Scotiabank started coverage on shares of Kinder Morgan in a research note on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Bank of America began coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Eight research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Insider Buying and Selling

In related news, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $27.91, for a total value of $502,380.00. Following the transaction, the president now directly owns 861,652 shares in the company, valued at approximately $24,048,707.32. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,121 shares of company stock worth $1,497,000. Corporate insiders own 12.64% of the company’s stock.

Institutional Trading of Kinder Morgan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Kinder Morgan in the 4th quarter worth $25,000. Modus Advisors LLC acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new position in Kinder Morgan during the third quarter worth $28,000. HWG Holdings LP purchased a new stake in shares of Kinder Morgan during the 2nd quarter worth $30,000. Finally, Planning Capital Management Corp grew its position in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after buying an additional 797 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

The stock’s 50-day moving average price is $27.90 and its 200-day moving average price is $24.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The company has a market capitalization of $67.16 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 4.18 and a beta of 0.94.

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.