Kinder Morgan, Inc. (KMI) Posts Earnings Results, Hits Estimates
Kinder Morgan, Inc. (NYSE:KMI) released its quarterly earnings results on Tuesday. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year.
Kinder Morgan (KMI) traded down 0.54% during trading on Wednesday, hitting $18.58. The stock had a trading volume of 18,359,242 shares. Kinder Morgan has a 52 week low of $18.23 and a 52 week 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 company has a 50-day moving average of $19.19 and a 200 day moving average of $19.61.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.69%. Kinder Morgan’s payout ratio is 161.29%.
In other Kinder Morgan news, Director William A. Smith bought 4,903 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.99% of the company’s stock.
Kinder Morgan declared that its board has initiated a stock buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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A number of research analysts recently issued reports on KMI shares. BMO Capital Markets set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. TD Securities set a $26.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 price target on shares of Kinder Morgan in a report on Friday, July 14th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.56.
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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