Kinder Morgan (NYSE:KMI) Releases FY24 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.17 for the period, compared to the consensus earnings per share estimate of $1.19. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Analyst Upgrades and Downgrades

Several research firms have commented on KMI. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, July 19th. Barclays lifted their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, Scotiabank raised their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.36.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $24.93 on Thursday. 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 1 year low of $15.91 and a 1 year high of $25.06. The firm’s 50-day simple moving average is $21.96 and its 200-day simple moving average is $20.39. The firm has a market cap of $55.33 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (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 analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Equities analysts forecast that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sital K. Mody sold 21,413 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now owns 25,169 shares in the company, valued at $534,841.25. The trade was 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 90 days. 12.64% of the stock is owned by company insiders.

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.