Kinder Morgan, Inc. (KMI) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Kinder Morgan, Inc. (NYSE:KMI) released its quarterly earnings data on Tuesday. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01, Bloomberg Earnings reports. Kinder Morgan had a return on equity of 4.62% and a net margin of 6.27%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year.
Kinder Morgan (KMI) traded up 0.87% during mid-day trading on Wednesday, hitting $19.67. 10,420,462 shares of the stock were exchanged. The company has a market capitalization of $43.91 billion, a PE ratio of 65.13 and a beta of 0.63. Kinder Morgan has a 1-year low of $18.31 and a 1-year high of $23.36. The stock has a 50 day moving average price of $19.03 and a 200 day moving average price of $20.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Kinder Morgan’s dividend payout ratio (DPR) is presently 161.29%.
In other news, insider Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $18.58 per share, for a total transaction of $9,290,000.00. Following the acquisition, the insider now directly owns 234,712,353 shares in the company, valued at $4,360,955,518.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dax Sanders bought 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. 13.99% of the stock is owned by company insiders.
KMI has been the topic of several recent analyst reports. Vetr lowered shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $23.88 price objective on the stock. in a research note on Tuesday, March 28th. Macquarie initiated coverage on shares of Kinder Morgan in a research note on Friday, April 21st. They set a “neutral” rating and a $21.00 price objective on the stock. Credit Suisse Group set a $27.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, April 20th. Wells Fargo & Company reissued an “outperform” rating and set a $25.00 price objective (down previously from $26.50) on shares of Kinder Morgan in a research note on Monday, May 15th. Finally, Sanford C. Bernstein initiated coverage on shares of Kinder Morgan in a research note on Tuesday, May 16th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $24.22.
About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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