Analysts Anticipate Kinder Morgan, Inc. (KMI) Will Post Quarterly Sales of $3.24 Billion
Brokerages predict that Kinder Morgan, Inc. (NYSE:KMI) will announce $3.24 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Kinder Morgan’s earnings, with the lowest sales estimate coming in at $3.17 billion and the highest estimate coming in at $3.35 billion. Kinder Morgan posted sales of $3.33 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The firm is scheduled to announce its next earnings results on Wednesday, October 18th.
On average, analysts expect that Kinder Morgan will report full-year sales of $3.24 billion for the current fiscal year, with estimates ranging from $13.16 billion to $13.54 billion. For the next year, analysts anticipate that the firm will post sales of $13.85 billion per share, with estimates ranging from $13.33 billion to $14.26 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Kinder Morgan.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the business posted $0.15 earnings per share. Kinder Morgan’s quarterly revenue was up 7.1% compared to the same quarter last year.
A number of equities research analysts recently commented on the company. BidaskClub lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus set a $25.00 price target on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a research report on Thursday, July 20th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Mizuho began coverage on Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $23.91.
Kinder Morgan (NYSE KMI) opened at 19.39 on Tuesday. Kinder Morgan has a 1-year low of $18.23 and a 1-year high of $23.36. The company has a market capitalization of $43.30 billion, a PE ratio of 63.99 and a beta of 0.65. The company has a 50 day moving average of $19.34 and a 200 day moving average of $19.95.
Kinder Morgan declared that its board has authorized a stock repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director William A. Smith purchased 4,903 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the purchase, the director now owns 14,587 shares of the company’s stock, valued at $295,240.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.99% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Private Harbour Investment Management & Counsel LLC boosted its stake in Kinder Morgan by 0.3% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 50 shares during the period. Guardian Life Insurance Co. of America boosted its stake in Kinder Morgan by 0.8% in the 1st quarter. Guardian Life Insurance Co. of America now owns 7,416 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 60 shares during the period. North Star Asset Management Inc. boosted its stake in Kinder Morgan by 0.6% in the 2nd quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock worth $192,000 after purchasing an additional 61 shares during the period. CNH Partners LLC boosted its stake in Kinder Morgan by 0.4% in the 2nd quarter. CNH Partners LLC now owns 27,467 shares of the pipeline company’s stock worth $526,000 after purchasing an additional 100 shares during the period. Finally, San Francisco Sentry Investment Group CA boosted its stake in Kinder Morgan by 0.8% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 12,186 shares of the pipeline company’s stock worth $265,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 59.12% of the company’s stock.
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About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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