Brokerages Expect Kinder Morgan, Inc. (KMI) Will Post Earnings of $0.15 Per Share
Wall Street brokerages forecast that Kinder Morgan, Inc. (NYSE:KMI) will post earnings per share of $0.15 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Kinder Morgan’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.12. Kinder Morgan reported earnings per share of $0.16 in the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The company is expected to announce its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Kinder Morgan will report full-year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.60 to $0.71. For the next year, analysts expect that the business will post earnings of $0.72 per share, with EPS estimates ranging from $0.61 to $0.80. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Kinder Morgan.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year.
KMI has been the subject of a number of research analyst reports. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a research note on Saturday. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wolfe Research cut Kinder Morgan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $26.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $25.00 price target (down from $26.50) on shares of Kinder Morgan in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kinder Morgan presently has a consensus rating of “Buy” and an average price target of $24.03.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of Kinder Morgan stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the acquisition, the insider now owns 234,712,353 shares in the company, valued at approximately $4,360,955,518.74. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dax Sanders bought 2,600 shares of Kinder Morgan stock in a transaction on Tuesday, May 30th. The stock was acquired at an average cost of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. Corporate insiders own 13.99% of the company’s stock.
Large investors have recently modified their holdings of the stock. 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 period. 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 period. 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 period. 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 period. 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 period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kinder Morgan (KMI) traded down 1.764% during midday trading on Monday, reaching $20.325. The company’s stock had a trading volume of 4,730,068 shares. Kinder Morgan has a 12 month low of $18.31 and a 12 month high of $23.36. The stock has a 50-day moving average of $19.11 and a 200 day moving average of $20.73. The company has a market cap of $45.32 billion, a price-to-earnings ratio of 66.859 and a beta of 0.63.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, July 27th. Kinder Morgan’s dividend payout ratio is currently 161.29%.
Kinder Morgan announced that its Board of Directors has initiated a share buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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About Kinder Morgan
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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