Kinder Morgan (NYSE:KMI) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Kinder Morgan (NYSE:KMI) posted 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. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. 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 traded up $0.17 during trading hours on Wednesday, reaching $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 firm 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 company’s 50-day moving average is $21.88 and its two-hundred day moving average is $20.36. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan has a 1-year low of $15.91 and a 1-year high of $25.06.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial boosted their price target on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, July 19th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.36.

Insider Buying and Selling at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 owns 307,409 shares of the company’s stock, 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. In related news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,311 shares of company stock valued at $3,121,891. 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.