Kinder Morgan (NYSE:KMI) Shares Down 1.7% on Disappointing Earnings

Kinder Morgan, Inc. (NYSE:KMI) fell 1.7% on Thursday following a dissappointing earnings announcement. The company traded as low as $30.12 and last traded at $30.27. 8,220,805 shares were traded during mid-day 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 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.10%.

Kinder Morgan Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on KMI shares. Scotiabank began coverage on shares of Kinder Morgan in a research note on Friday, January 10th. They issued a “sector perform” rating and a $26.00 target price on the stock. Truist Financial raised their price target on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays raised their target price on Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Mizuho upped their price target on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.92.

Insider Activity at Kinder Morgan

In other news, Director Amy W. Chronis acquired 2,241 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, with a total value of $55,778.49. Following the completion of the purchase, the director now owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total transaction of $502,380.00. Following the completion of the transaction, the president now owns 861,652 shares of the company’s stock, valued at $24,048,707.32. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,121 shares of company stock valued at $1,497,000 over the last quarter. 12.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinder Morgan

Large investors have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP grew its holdings in shares of Kinder Morgan by 0.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock worth $233,050,000 after purchasing an additional 69,307 shares during the last quarter. Barclays PLC lifted its position in Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after buying an additional 2,334,273 shares in the last quarter. Bank of Montreal Can grew its holdings in Kinder Morgan by 2.2% during the 3rd quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock worth $163,116,000 after acquiring an additional 164,152 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Kinder Morgan by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock valued at $101,422,000 after acquiring an additional 29,861 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Kinder Morgan by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 4,113,709 shares of the pipeline company’s stock worth $81,739,000 after acquiring an additional 83,111 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Price 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 stock’s 50-day moving average price is $27.97 and its 200-day moving average price is $24.37. The company has a market capitalization of $67.16 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth 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.