Kinder Morgan (NYSE:KMI) Announces Quarterly Earnings Results

Kinder Morgan (NYSE:KMI) released its quarterly earnings results on Wednesday. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’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 Price Performance

NYSE KMI opened at $24.93 on Thursday. 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 stock has a market cap of $55.33 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 3.27 and a beta of 0.93. The business has a 50 day simple moving average of $21.96 and a 200 day simple moving average of $20.39. Kinder Morgan has a 52-week low of $15.91 and a 52-week high of $25.06.

Analyst Ratings Changes

KMI has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Wednesday. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $27.00 in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, July 19th. Finally, Barclays boosted their target price on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Eight investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Insider Buying and Selling at Kinder Morgan

In other news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares of the company’s stock, valued at $534,841.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is currently owned by corporate insiders.

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.