Kinder Morgan (NYSE:KMI) Stock Price Down 1.7% Following Weak Earnings

Kinder Morgan, Inc. (NYSE:KMI)’s share price traded down 1.7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.12 and last traded at $30.27. 8,220,805 shares were traded during trading, a decline of 41% from the average session volume of 14,020,573 shares. The stock had previously closed at $30.78.

The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, February 3rd. Kinder Morgan’s dividend payout ratio (DPR) is currently 100.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KMI. UBS Group boosted their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America assumed coverage on Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Truist Financial increased their target price on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Scotiabank initiated coverage on Kinder Morgan in a research report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.92.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $27.34, for a total value of $492,120.00. Following the completion of the sale, the president now owns 879,652 shares of the company’s stock, valued at approximately $24,049,685.68. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy W. Chronis bought 2,241 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the acquisition, the director now owns 23,995 shares of the company’s stock, 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. In the last quarter, insiders have sold 55,121 shares of company stock valued at $1,497,000. 12.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinder Morgan

Several institutional investors and hedge funds have recently modified their holdings of KMI. CX Institutional lifted its position in Kinder Morgan by 2.3% in the fourth quarter. CX Institutional now owns 15,661 shares of the pipeline company’s stock valued at $429,000 after acquiring an additional 354 shares during the last quarter. Sunflower Bank N.A. increased its position in shares of Kinder Morgan by 3.6% during the fourth quarter. Sunflower Bank N.A. now owns 10,503 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 367 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of Kinder Morgan by 3.9% in the 4th quarter. Ignite Planners LLC now owns 9,992 shares of the pipeline company’s stock valued at $282,000 after purchasing an additional 372 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in shares of Kinder Morgan by 8.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 5,182 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 385 shares during the period. Finally, Sunbelt Securities Inc. grew its stake in Kinder Morgan by 0.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 90,560 shares of the pipeline company’s stock worth $2,000,000 after buying an additional 414 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Stock Performance

The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The firm has a 50-day simple moving average of $27.90 and a 200 day simple moving average of $24.32. The company has a market cap of $67.77 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94.

About Kinder Morgan

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.