Kinder Morgan, Inc. (NYSE:KMI) posted its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15, Bloomberg Earnings reports. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.37%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS.
Kinder Morgan (KMI) traded up 0.17% during trading on Friday, hitting $18.03. 17,199,946 shares of the company were exchanged. The company has a market capitalization of $40.27 billion, a price-to-earnings ratio of 59.50 and a beta of 0.65. Kinder Morgan has a 12 month low of $17.82 and a 12 month high of $23.01. The company has a 50-day moving average of $19.05 and a 200-day moving average of $19.49.
The business 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 dividend of $0.125 per share. The ex-dividend date is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.77%. Kinder Morgan’s payout ratio is currently 161.29%.
Kinder Morgan declared that its board has authorized a share 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 buy up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of research analysts recently weighed in on KMI shares. Goldman Sachs Group, Inc. (The) lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and raised their price target for the company from $18.81 to $22.00 in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a report on Thursday, October 19th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a report on Monday, July 3rd. Finally, Stifel Nicolaus cut their price objective on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $23.03.
In related news, Director William A. Smith bought 4,903 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $20.24 per share, with a total value of $99,236.72. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.99% of the company’s stock.
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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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