Kinder Morgan, Inc. (KMI) Expected to Announce Quarterly Sales of $3.26 Billion
Analysts expect Kinder Morgan, Inc. (NYSE:KMI) to announce sales of $3.26 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Kinder Morgan’s earnings. The lowest sales estimate is $3.17 billion and the highest is $3.40 billion. Kinder Morgan reported sales of $3.33 billion during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The company is scheduled to report its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Kinder Morgan will report full-year sales of $3.26 billion for the current fiscal year, with estimates ranging from $12.70 billion to $13.54 billion. For the next fiscal year, analysts anticipate that the business will post sales of $13.74 billion per share, with estimates ranging from $13.28 billion to $14.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Kinder Morgan.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis.
A number of analysts recently issued reports on KMI shares. BMO Capital Markets set a $26.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Tuesday, June 20th. TD Securities set a $26.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Tuesday, June 20th. Vetr downgraded shares of Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective for the company. in a report on Monday, April 24th. Credit Suisse Group set a $27.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, April 20th. Finally, Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.03.
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Shares of Kinder Morgan (NYSE:KMI) traded up 1.012% on Wednesday, hitting $20.455. 6,475,606 shares of the stock traded hands. The firm’s 50-day moving average is $19.20 and its 200 day moving average is $20.70. Kinder Morgan has a 12-month low of $18.31 and a 12-month high of $23.36. The firm has a market cap of $45.61 billion, a P/E ratio of 67.286 and a beta of 0.63.
Kinder Morgan declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio (DPR) is 161.29%.
In related news, insider Richard D. Kinder acquired 500,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the acquisition, the insider now directly owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Dax Sanders acquired 2,600 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Insiders own 13.99% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. First Bank & Trust increased its stake in Kinder Morgan by 9.4% in the first quarter. First Bank & Trust now owns 4,739 shares of the pipeline company’s stock valued at $103,000 after buying an additional 408 shares during the last quarter. Trust Co. of Vermont increased its stake in Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after buying an additional 675 shares during the last quarter. CWM LLC increased its stake in Kinder Morgan by 770.5% in the second quarter. CWM LLC now owns 8,052 shares of the pipeline company’s stock valued at $154,000 after buying an additional 7,127 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Kinder Morgan by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock valued at $161,000 after buying an additional 60 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Kinder Morgan by 20.6% in the first quarter. Salem Investment Counselors Inc. now owns 7,959 shares of the pipeline company’s stock valued at $171,000 after buying an additional 1,359 shares during the last quarter. 57.56% of the stock is owned by institutional investors and hedge funds.
Kinder Morgan Company Profile
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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