Kinder Morgan (NYSE:KMI) Posts Earnings Results, Beats Estimates By $0.03 EPS

Kinder Morgan (NYSE:KMI) released its earnings results on Wednesday. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03, Zacks reports. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%.

Kinder Morgan Stock Up 2.3%

Shares of NYSE:KMI traded up $0.63 during trading on Wednesday, hitting $28.59. 17,444,781 shares of the company’s stock traded hands, compared to its average volume of 14,162,712. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. Kinder Morgan has a 52 week low of $23.94 and a 52 week high of $31.46. The company has a 50-day moving average price of $27.14 and a 200-day moving average price of $27.19. The company has a market cap of $63.61 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69.

Insiders Place Their Bets

In other news, Director Amy W. Chronis purchased 3,800 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $26.23 per share, for a total transaction of $99,674.00. Following the completion of the acquisition, the director directly owned 39,051 shares in the company, valued at approximately $1,024,307.73. This trade represents a 10.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $27.49, for a total value of $169,503.34. Following the completion of the sale, the vice president directly owned 201,204 shares in the company, valued at approximately $5,531,097.96. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 1,004,287 shares of company stock worth $26,072,463 and sold 18,498 shares worth $507,462. Corporate insiders own 12.73% of the company’s stock.

Hedge Funds Weigh In On Kinder Morgan

Several hedge funds and other institutional investors have recently made changes to their positions in KMI. JPL Wealth Management LLC bought a new stake in Kinder Morgan during the third quarter worth $40,000. Kelleher Financial Advisors bought a new stake in Kinder Morgan in the third quarter valued at approximately $44,000. Palisade Asset Management LLC acquired a new stake in shares of Kinder Morgan in the third quarter valued at approximately $59,000. Triumph Capital Management acquired a new position in shares of Kinder Morgan in the third quarter valued at $103,000. Finally, SWAN Capital LLC lifted its stake in shares of Kinder Morgan by 184.5% during the 3rd quarter. SWAN Capital LLC now owns 5,340 shares of the pipeline company’s stock worth $151,000 after buying an additional 3,463 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on KMI shares. Stifel Nicolaus upped their target price on Kinder Morgan from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Morgan Stanley set a $29.00 price objective on shares of Kinder Morgan in a report on Tuesday, December 23rd. Scotiabank reiterated a “sector perform” rating and set a $29.00 target price on shares of Kinder Morgan in a research report on Friday, January 16th. Mizuho dropped their price target on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Finally, Royal Bank Of Canada lifted their price objective on Kinder Morgan from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.33.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.