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

Kinder Morgan (NYSE:KMI) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Kinder Morgan Trading Up 0.5 %

Shares of KMI stock opened at $24.95 on Friday. The company has a market cap of $55.37 billion, a P/E ratio of 22.68, a PEG ratio of 3.27 and a beta of 0.93. The stock has a 50 day simple moving average of $22.12 and a two-hundred day simple moving average of $20.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. Kinder Morgan has a fifty-two week low of $15.91 and a fifty-two week high of $25.43.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Research analysts forecast that Kinder Morgan will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.61%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price objective on Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays upped their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Finally, Royal Bank of Canada upped their price target on Kinder Morgan from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.27.

Insider Buying and Selling

In related news, VP Dax Sanders sold 1,729 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 approximately $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 accessible through this hyperlink. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,311 shares of company stock valued at $3,121,891. Corporate insiders own 12.64% of the company’s stock.

About Kinder Morgan

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.