Kinder Morgan (NYSE:KMI) Issues FY24 Earnings Guidance

Kinder Morgan (NYSE:KMI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.17 for the period, compared to the consensus EPS estimate of $1.19. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Price Performance

Kinder Morgan stock traded up $0.17 during midday trading on Wednesday, reaching $24.93. 16,934,223 shares of the company were exchanged, compared to its average volume of 13,829,604. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The company has a market capitalization of $55.33 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 3.27 and a beta of 0.93. The firm’s 50-day simple moving average is $21.88 and its 200-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.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KMI shares. Royal Bank of Canada boosted their target price on Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Wednesday. Truist Financial boosted their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Scotiabank boosted their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their target price on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.36.

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 that occurred 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 transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the president now owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The trade was 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 three months. Corporate 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.