Kinder Morgan (NYSE:KMI) Stock Price Down 1.4% Following Weak Earnings

Kinder Morgan, Inc. (NYSE:KMI)’s stock price traded down 1.4% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.66 and last traded at $30.79. 5,245,225 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 13,431,764 shares. The stock had previously closed at $31.22.

The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.10% and a net margin of 17.31%.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 3.80%. Kinder Morgan’s dividend payout ratio is 98.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial upped their target price on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Bank of America began coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective for the company. Mizuho upped their target price on shares of Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays upped their price objective on Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $28.92.

Insiders Place Their Bets

In related news, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the sale, the president now directly owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, with a total value of $55,778.49. Following the acquisition, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This trade represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 55,121 shares of company stock valued at $1,497,000. Insiders own 12.64% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kinder Morgan by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock worth $101,422,000 after purchasing an additional 29,861 shares during the period. Global Retirement Partners LLC lifted its holdings in Kinder Morgan by 3.5% during the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 776 shares in the last quarter. Principal Financial Group Inc. grew its stake in Kinder Morgan by 3.2% in the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock valued at $50,624,000 after acquiring an additional 71,984 shares during the period. Czech National Bank increased its holdings in shares of Kinder Morgan by 6.9% in the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after acquiring an additional 25,406 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Kinder Morgan by 39.9% during the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after purchasing an additional 2,334,273 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Price Performance

The company has a fifty day moving average price of $27.97 and a two-hundred day moving average price of $24.37. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The firm has a market cap of $67.16 billion, a P/E ratio of 25.84, a PEG ratio of 4.13 and a beta of 0.94.

Kinder Morgan Company Profile

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.