Valued at a market cap of $49 billion, Kinder Morgan, Inc. (KMI) operates as an energy infrastructure company. The Houston, Texas-based company operates pipelines to transport natural gas, crude oil, refined petroleum products, CO2, and other products. It also owns terminals for storing liquid commodities comprising ethanol, chemicals, and petroleum products. The company will announce its fiscal Q3 earnings results on Wednesday, Oct. 16.
Ahead of this event, analysts expect the energy company to report a profit of $0.27 per share, up 8% from $0.25 per share in the year-ago quarter. However, the company has beaten or matched Wall Street's bottom-line estimates in two of the last four quarters while missing on two other occasions.
Its adjusted earnings of $0.25 per share for the last quarter matched the consensus estimate. Kinder Morgan's Q2 performance was driven by increased contributions from its Natural Gas Pipelines, Products Pipelines, and Terminals segments.
For fiscal 2024, analysts project KMI to report an EPS of $1.19, up 11.2% from $1.07 in fiscal 2023.
Shares of KMI have gained 27.3% on a YTD basis, outperforming both the S&P 500 Index's ($SPX) 19.2% return and the Energy Select Sector SPDR Fund’s (XLE) 6.7% increase over the same period.
Shares of KMI gained 2.5% following its Q2 earnings release on Jul. 17. The company reported revenue of $3.57 billion for the period, which fell short of the consensus estimates of $3.9 billion.
Analysts' consensus view on Kinder Morgan’s stock is moderately optimistic, with a "Moderate Buy" rating overall. Out of 18 analysts covering the stock, five advise a "Strong Buy" rating, one indicates a “Moderate Buy,” and 12 suggest a “Hold” rating. The average analyst price target for KMI is $22.53, indicating a potential upside of 2% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
