Kinder Morgan (NYSE:KMI) Updates FY 2024 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.220-1.220 for the period, compared to the consensus estimate of 1.240. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.17 EPS.

Analysts Set New Price Targets

Several research firms have issued reports on KMI. Stifel Nicolaus upped their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective for the company in a report on Monday, September 16th. Bank of America assumed coverage on shares of Kinder Morgan in a research report on Thursday. They issued a “buy” rating and a $27.00 target price for the company. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, July 19th. Finally, UBS Group upped their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and a consensus target price of $24.09.

Kinder Morgan Trading Down 0.4 %

Shares of KMI stock opened at $24.82 on Friday. The company has a market capitalization of $55.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. Kinder Morgan has a 12-month low of $15.91 and a 12-month high of $25.43. The firm has a 50 day moving average price of $22.04 and a two-hundred day moving average price of $20.42.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Insider Buying and Selling at Kinder Morgan

In related news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction 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 transaction, the president now owns 916,773 shares in the company, valued at $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $36,309.00. Following the sale, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,311 shares of company stock worth $3,121,891. 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.