Kinder Morgan, Inc. (KMI) Releases Earnings Results, Hits Expectations
Kinder Morgan, Inc. (NYSE:KMI) released its earnings results on Tuesday. The pipeline company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15, Bloomberg Earnings reports. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year.
Shares of Kinder Morgan (KMI) traded down 0.54% on Wednesday, hitting $18.58. The stock had a trading volume of 18,359,242 shares. Kinder Morgan has a one year low of $18.23 and a one year high of $23.01. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 61.32 and a beta of 0.65. The firm’s 50-day moving average is $19.19 and its 200-day moving average is $19.61.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.69%. Kinder Morgan’s payout ratio is 161.29%.
A number of research firms recently commented on KMI. Citigroup Inc. decreased their target price on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday. Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $18.81 to $22.00 in a report on Tuesday. BMO Capital Markets set a $26.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Kinder Morgan in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.56.
In other Kinder Morgan news, Director William A. Smith purchased 4,903 shares of Kinder Morgan stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $20.24 per share, with a total value of $99,236.72. Following the acquisition, the director now directly owns 14,587 shares of the company’s stock, valued at $295,240.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 13.99% of the stock is owned by company insiders.
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Kinder Morgan declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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