Kinder Morgan (NYSE:KMI) Posts Quarterly Earnings Results

Key Points

• Kinder Morgan reported quarterly earnings of $0.29 EPS, meeting the consensus estimate and demonstrating a net margin of 17.06%.
• Insider trading saw significant activity, with executives selling shares worth over $2.4 million collectively in August.
• Analyst ratings have been generally positive, with a current average rating of "Moderate Buy" and a price target of $31.13.

Kinder Morgan (NYSE:KMI - Get Free Report) released its quarterly earnings data on Wednesday. The pipeline company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29, Zacks reports. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%.

Kinder Morgan Price Performance

Shares of Kinder Morgan stock traded up $0.08 during trading hours on Wednesday, reaching $27.58. The stock had a trading volume of 13,270,613 shares, compared to its average volume of 14,184,426. The stock's 50 day moving average is $27.29 and its 200 day moving average is $27.41. The firm has a market capitalization of $61.27 billion, a PE ratio of 22.60, a PEG ratio of 3.24 and a beta of 0.78. Kinder Morgan has a twelve month low of $23.94 and a twelve month high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

Insiders Place Their Bets

In other news, VP Sital K. Mody sold 45,549 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the sale, the chief financial officer directly owned 159,428 shares of the company's stock, valued at approximately $4,494,275.32. This trade represents a 20.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,174 shares of company stock worth $3,727,678. 12.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kinder Morgan

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC acquired a new position in Kinder Morgan in the fourth quarter valued at $308,000. NewEdge Advisors LLC boosted its holdings in shares of Kinder Morgan by 2.1% in the second quarter. NewEdge Advisors LLC now owns 270,876 shares of the pipeline company's stock valued at $7,964,000 after acquiring an additional 5,586 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Kinder Morgan in the second quarter valued at about $1,168,000. Sei Investments Co. boosted its holdings in shares of Kinder Morgan by 20.4% in the second quarter. Sei Investments Co. now owns 861,465 shares of the pipeline company's stock valued at $25,328,000 after acquiring an additional 145,806 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Kinder Morgan by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 908,405 shares of the pipeline company's stock valued at $26,707,000 after acquiring an additional 21,160 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on KMI shares. Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating for the company. Stifel Nicolaus increased their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley set a $30.00 price objective on shares of Kinder Morgan in a research report on Thursday, October 9th. TD Cowen initiated coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating and a $34.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 9th. They issued a "hold" rating and a $30.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.13.

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.

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