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

by · The Markets Daily

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

Kinder Morgan Stock Up 0.7 %

NYSE:KMI traded up $0.17 during mid-day trading on Wednesday, reaching $24.93. The stock had a trading volume of 16,934,223 shares, compared to its average volume of 13,829,604. The business’s 50 day moving average is $21.88 and its 200 day moving average is $20.36. Kinder Morgan has a fifty-two week low of $15.91 and a fifty-two week high of $25.06. The stock has a market cap of $55.33 billion, a P/E ratio of 22.75, a PEG ratio of 3.27 and a beta of 0.93. 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 (NYSE:KMI – Get Free Report) last announced 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). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on KMI shares. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target on the stock in a report on Monday, September 16th. Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, July 19th. Scotiabank raised their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Bank of America upgraded shares of Kinder Morgan from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $27.00 in a research note on Friday, October 11th. Finally, Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Get Our Latest Research Report on Kinder Morgan

Insider Buying and Selling

In related news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan 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 completion of the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction dated 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 completion of the transaction, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock valued at $3,121,891 over the last ninety days. 12.64% of the stock is owned by company insiders.

About Kinder Morgan

(Get Free Report)

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.

Further Reading