Kinder Morgan (NYSE:KMI) Releases Earnings Results, Misses Estimates By $0.01 EPS

Kinder Morgan (NYSE:KMI) announced its quarterly earnings data on Wednesday. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01), RTT News reports. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS.

KMI opened at $20.50 on Friday. Kinder Morgan has a fifty-two week low of $14.62 and a fifty-two week high of $21.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.37. The business’s fifty day simple moving average is $20.83. The firm has a market capitalization of $46.23 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.02 and a beta of 0.85.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a yield of 4.88%. Kinder Morgan’s dividend payout ratio is currently 112.36%.

Several equities research analysts have recently issued reports on KMI shares. Goldman Sachs Group upgraded shares of Bright Scholar Education Holdngs from a “neutral” rating to a “buy” rating and set a $10.28 price objective on the stock in a research note on Thursday, March 28th. Raymond James started coverage on shares of Planet Fitness in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. set a $45.00 price objective on shares of Ciena and gave the stock a “buy” rating in a research note on Friday, March 22nd. Citigroup started coverage on shares of Boeing in a research note on Wednesday, March 27th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Kinder Morgan has an average rating of “Hold” and an average price target of $21.73.

In related news, insider Richard D. Kinder acquired 400,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $19.53 per share, with a total value of $7,812,000.00. Following the completion of the acquisition, the insider now owns 240,201,954 shares in the company, valued at $4,691,144,161.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard D. Kinder acquired 200,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $19.89 per share, with a total value of $3,978,000.00. Following the completion of the acquisition, the insider now owns 239,801,954 shares of the company’s stock, valued at approximately $4,769,660,865.06. The disclosure for this purchase can be found here. Insiders have acquired 1,607,164 shares of company stock worth $31,486,119 in the last quarter. Corporate insiders own 13.95% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Founders Capital Management lifted its holdings in shares of Kinder Morgan by 224.9% during the first quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 850 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of Kinder Morgan by 119.2% during the first quarter. Citizens Financial Group Inc RI now owns 1,256 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 683 shares during the period. Financial Gravity Wealth Inc. bought a new position in shares of Kinder Morgan during the first quarter valued at $30,000. Hanson McClain Inc. lifted its holdings in shares of Kinder Morgan by 606.6% during the first quarter. Hanson McClain Inc. now owns 1,505 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 1,292 shares during the period. Finally, Webster Bank N. A. bought a new position in shares of Kinder Morgan during the first quarter valued at $31,000. 62.58% of the stock is owned by institutional investors.

Kinder Morgan Company Profile

Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

Further Reading: What is a blue-chip stock?

Earnings History for Kinder Morgan (NYSE:KMI)

Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.