Dernières nouvelles pour Kinder Morgan (NYSE:KMI) Stock

Kinder Morgan

Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.

Kinder Morgan Inc

Enterprise Products Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is currently considered undervalued, trading at a 9.81x trailing 12-month enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), which is below the broader industry average of 11.89x.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6c/79322.jpg?v=432385788" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
While a discount valuation often presents a potentially profitable opportunity for investors, it is essential to investigate whether the partnership is facing any internal challenges. A more comprehensive analysis is required to determine if EPD&#39;s discounted valuation is justified based on its fundamentals, growth prospects and prevailing market conditions.
<h2>EPD&#39;s $7B Key Projects &amp; Handsome Distribution Yield</h2>
Enterprise Products, a top-tier North American midstream service provider, boasts a vast and diversified asset portfolio. This includes more than 50,000 miles of pipelines and a storage capacity of 300 million barrels. These assets are utilized by shippers on long-term contracts to transport and store natural gas liquids, crude oil, refined products and petrochemicals. The partnership also has 14 billion cubic feet of natural gas storage capacity, securing stable fee-based revenues.
Additionally, EPD is set to generate additional fee-based earnings with $6.7 billion worth of major capital projects either currently in service or under construction. These project backlogs will not only secure stable cashflows but will also generate handsome unit-holder returns.
<img alt="Enterprise Products Partners LP" src="https://staticx-tuner.zacks.com/images/articles/charts/42/75535.jpg?v=193354622" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Enterprise Products Partners LP
Supported by its stable and resilient business model, Enterprise Products has achieved 26 consecutive years of distribution hikes. The current distribution yield of the partnership stands at 7.2%, higher than 6.5% of the composite stocks belonging to the&nbsp;industry.
Distribution Yield
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/31/79324.jpg?v=379506337" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>EPD to Buy Pinon Midstream: Additional Fee-Based Earnings?</h2>
On Aug. 21, Enterprise Products announced an agreement to acquire Pi&ntilde;on Midstream for $950 million in an all-cash transaction. Pi&ntilde;on, a key player in gas gathering, compression and treating, operates in the Delaware Basin, a sub-basin of the Permian.
Once the acquisition of all the equity interests in Pi&ntilde;on is completed, likely in the fourth quarter of this year, Enterprise Products will secure additional fee-based earnings. This is because Pi&ntilde;on&#39;s assets, comprising 50 miles of natural gas gathering pipelines, compressor stations and treating facilities with plans for significant capacity expansion, are backed by long-term fee-based contracts, minimizing exposure to commodity price fluctuations and reducing volume risks.
Pi&ntilde;on operates a premier sour gas treatment system in the Delaware Basin, an area with significant untapped potential. With the acquisition, EPD will be able to establish a significant presence in the basin much faster.
<h2>Should Investors Take a Chance on Undervalued EPD Stock?</h2>
Despite these positive developments, the partnership&#39;s stock is trading at a discount to its true value. Year to date, its units have jumped 17.3%, lagging the industry&#39;s composite stock growth of 24.2%. Prominent midstream companies such as Kinder Morgan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) and Enbridge Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) have also surpassed EPD, achieving gains of 31% and 20.5%, respectively, during the same timeframe.
Year-To-Date Price Chart
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/64/79326.jpg?v=1283134383" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
It appears that Enterprise Products has the potential to outperform the industry once the stock market begins to acknowledge its true value. However, there are concerns surrounding the stock, particularly regarding EPD&#39;s rising long-term debt, which is near its highest level in over a decade. This debt is primarily being utilized to finance substantial capital projects, and analysts worry that significant debt reduction may not occur in the near term. Recently, the company issued $2.5 billion in bonds at relatively favorable rates, but current borrowing rates exceed historical averages, resulting in increasingly rapid interest payments.
While EPD is currently undervalued, investors are probably better off not buying the stock until there is greater clarity on the partnership&#39;s future. Those who already own the stock should hold on to it. The stock carries a Zacks Rank #3 (Hold) at present.
Notably, major brokers have increased EPD&#39;s short-term price target by 14.1% from its recent closing price of $29.25, with the highest target set at $37, indicating a potential upside of 26.5%. Consequently, current investors holding their units stand to benefit from this upward price trend in the interim.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/40/79323.jpg?v=1169870962" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<a href="https://www.zacks.com/stock/news/2342205/is-enterprise-s-cheap-valuation-an-opportunity-to-invest-in-the-stock?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2342205">To read this article on Zacks.com click here.</a>

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Is Enterprise's Cheap Valuation an Opportunity to Invest in the Stock?

Blue Line Capital&#8217;s&nbsp;Bill Baruch&nbsp;is trimming Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock and putting the money to work <a href="https://www.benzinga.com/topic/energy-stocks">in energy names</a>.
What Happened: Tuesday on CNBC&#8217;s &#8220;Fast Money Halftime Report,&#8221; Baruch announced that he cut back positions in Tesla and Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and used the funds to add to positions in Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>).
Tesla shares are up more than 20% over the past month and just turned positive for the year this week. The sentiment around Tesla has been &#8220;pretty poor,&#8221; but Baruch is beginning to notice a shift as the EV maker heads into its upcoming robotaxi event on Oct. 10.
Baruch told CNBC that he&#8217;s been adding to his <a href="http://benzinga.com/quote/tsla">Tesla position</a> on weakness. Given the recent surge in shares, Tesla grew too large in his portfolio so he decided to trim about 25% of his stake, he said. Tesla is also battling technical resistance around current levels, which made taking profit an even easier decision, he added. 
Check This Out: <a href="https://www.benzinga.com/news/24/09/41000762/tesla-says-model-y-is-the-best-selling-ev-in-norway-with-over-60k-units-on-road">Tesla Says Model Y Is The Best-Selling EV In Norway With Over 60K Units On Road</a>
Baruch also sold out of his <a href="http://benzinga.com/quote/slb">Schlumberger</a> position for a loss in order to use those losses against some of his gains in Tesla. 
&#8220;SLB was really a tax harvesting loss to that Tesla profit trade. And what we&#8217;re doing is reallocating these monies to energy,&#8221; Baruch said. 
Why It Matters: The Blue Line Capital founder told CNBC that 13% of his firm&#8217;s portfolio is weighted to <a href="https://www.benzinga.com/topic/energy">energy</a>. That didn&#8217;t stop him from adding to Exxon Mobil.
Baruch noted that managed money in <a href="https://www.benzinga.com/topic/wti-crude-oil">Crude oil futures</a> has gone net short over the last month or so. When negativity starts to pile up, he suggested that a bottom is usually near.
&#8220;Exxon is really cheap. We owned Pioneer Natural Resources before this <a href="https://www.benzinga.com/markets/equities/24/08/40335015/exxon-mobil-reduces-staff-after-pioneer-merger-report">acquisition</a> and we really like the synergies there. I think Exxon has really outperformed within the space,&#8221; Baruch said. 
Baruch also increased his exposure to Kinder Morgan as he believes more and more people are going to start talking about the <a href="http://benzinga.com/topic/ai">energy requirements of AI.</a>
&#8220;Power is going to be a big thing with AI. We really believe in natural gas and the movement, logistically, getting natural gas in order to generate power. Kinder Morgan is going to be right in the thick of that,&#8221; Baruch said. 
TSLA, SLB, XOM, KMI Price Action: At publication time, Tesla shares were up 1.23% at $253.08, Schlumberger shares were up 0.41% at $43.08, Kinder Morgan shares were up 0.07% at $22.21 and Exxon Mobil shares were down 0.15% at $117.19, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/personal-finance/24/09/40676224/three-stocks-to-play-an-ai-energy-breakthrough">Three Stocks to Play an AI Energy Breakthrough</a></li>
</ul>
Photo: courtesy of Tesla.

TSLA

Bill Baruch Trims Tesla Stock, Buys Pair Of Energy Names: 'Power Is Going To Be A Big Thing With AI'

<a href="https://www.fox26houston.com/news/la-porte-pipeline-fire-near-spencer-highway-causes-road-closures-evacuations">https://www.fox26houston.com/news/la-porte-pipeline-fire-near-spencer-highway-causes-road-closures-evacuations</a>
A pipeline fire near Spencer Highway and Summerton has caused major disruptions.&nbsp;
The Fire Department is advising residents to evacuate the area between Luella and Canada. Emergency crews are actively working to control the fire.&nbsp;
<ul>
<li>Spencer Highway: Closed in both directions</li>
<li>East Boulevard: Closed southbound towards Spencer Highway</li>
<li>Wal-Mart and H-E-B Area: Blocked off</li>
</ul>
Shelter in Place: San Jacinto College Central Campus, employees, and students should shelter in place until further notice.

SHEL

'La Porte Pipeline Fire Near Spencer Highway Causes Road Closures, Evacuations' - Fox 26 Houston

Morgan Stanley analyst Devin McDermott upgrades Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) from Underweight to Equal-Weight and maintains the price target from $24 to $24.

Upgrades

Morgan Stanley Upgrades Kinder Morgan to Equal-Weight, Maintains Price Target to $24

Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) has been analyzed by 9 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $22.56, a high estimate of $25.00, and a low estimate of $21.00. Observing a 8.72% increase, the current average has risen from the previous average price target of $20.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1726250458_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A comprehensive examination of how financial experts perceive Kinder Morgan is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$22.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Brian Reynolds</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$25.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$23.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$22.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$21.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$22.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$23.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Bill Selesky</td>
<td>Argus Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$24.00</td>
<td>-</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$21.00</td>
<td>$19.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Kinder Morgan. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Kinder Morgan compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Kinder Morgan's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into Kinder Morgan's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KMI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kinder Morgan analyst ratings.</a>
<h2>All You Need to Know About Kinder Morgan</h2>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Kinder Morgan's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Kinder Morgan's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 2.03%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Kinder Morgan's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 16.01%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Kinder Morgan's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 1.88%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Kinder Morgan's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.81%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Kinder Morgan's debt-to-equity ratio is below the industry average. With a ratio of 1.04, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: Simplified</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Kinder Morgan

Barclays analyst Theresa Chen maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Equal-Weight and raises the price target from $21 to $22.

Barclays Maintains Equal-Weight on Kinder Morgan, Raises Price Target to $22

UBS analyst Brian Reynolds maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Buy and raises the price target from $24 to $25.

UBS Maintains Buy on Kinder Morgan, Raises Price Target to $25

Kinder Morgan CEO Says Looking For Greenfield Opportunities As Need For Natural Gas Storage Grows

Ratings for Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) were provided by 9 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $22.44, a high estimate of $24.00, and a low estimate of $21.00. Marking an increase of 11.53%, the current average surpasses the previous average price target of $20.12. 
<img src="https://www.benzinga.com/files/images/story/2024/1724763666_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Kinder Morgan by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$23.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$22.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$21.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$22.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$23.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Bill Selesky</td>
<td>Argus Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$24.00</td>
<td>-</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$21.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Brian Reynolds</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$18.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Kinder Morgan. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Kinder Morgan compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Kinder Morgan's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Kinder Morgan's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KMI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kinder Morgan analyst ratings.</a>
<h2>About Kinder Morgan</h2>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Kinder Morgan: Delving into Financials</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining Kinder Morgan's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 2.03% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Kinder Morgan's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 16.01%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Kinder Morgan's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.88%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.81%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Kinder Morgan's debt-to-equity ratio is below the industry average at 1.04, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Kinder Morgan Analyst Ratings

Stifel analyst Selman Akyol maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Hold and raises the price target from $22 to $23.

Stifel Maintains Hold on Kinder Morgan, Raises Price Target to $23

USA Compression Partners (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usac#NYSE">USAC</a>) reported a second-quarter adjusted net profit of 21 cents per common unit, which beat the Zacks Consensus Estimate of 17 cents due to its improved pricing and utilization. The metric also improved significantly from the year-ago quarter&#39;s adjusted net profit of 8 cents per share on the back of a higher-than-expected, revenue-generating capacity.
The largest independent provider of natural gas compression services generated revenues of $235.3 million, improving 13.7% from the year-ago quarter&#39;s level and beating the Zacks Consensus Estimate of $233 million. This revenue growth was propelled by a 13.5% year-over-year increase in Contract operations and a notable 42.1% surge in Parts and Service revenues.
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<h3>USA Compression Partners, LP Price, Consensus and EPS Surprise</h3>
<img alt="USA Compression Partners, LP Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/5f/1723544759.png" style="height:265px; width:581px" title="" />
USA Compression Partners, LP price-consensus-eps-surprise-chart | USA Compression Partners, LP Quote
Adjusted EBITDA increased 14.9% to $143.7 million and came ahead of our estimate of $134.6 million.
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Distributable cash flow increased from $67 million in the prior-year quarter to $85.9 million. The company reported a net income worth $31.2 million compared with $23.6 million a year ago.
USAC reported operating cash flow of $96.7 million in the second quarter, up from the prior-year quarter&#39;s $87.9 million.
Adjusted gross operating margin of 66.8% marked an increase from the year-ago period&#39;s 66.2%.
The company&#39;s revenue-generating capacity increased 6.2% year over year to 3.5 million horsepower, surpassing the Zacks Consensus Estimate by 0.1%. The figure came in above our estimate of 3.44 million horsepower.
Further, the average monthly revenue per horsepower rose to $20.29 from $18.65 in the second quarter of 2023. The actual figure was slightly below our estimate of $20.36.
Meanwhile, USA Compression&#39;s average quarterly horsepower utilization rate came in at 94.7%, up from 93.4% a year ago.
<h3>DCF, Cost, Capex &amp; Balance Sheet</h3>
USAC&#39;s distributable cash flow available to limited partners totaled $85.9 million (providing 1.4X distribution coverage), up 28.1% from the year-ago level.
Notably, on Jul 11, USAC declared second-quarter cash distribution of 52.5 cents per unit ($2.10 on an annualized basis). The distribution was paid on Aug 2, 2024, to common unitholders of record as of Jul 22.
The company reported $157.9 million in costs and expenses, down 2.7% from the year-ago quarter&#39;s $162.4 million. It spent $67 million on growth capex. Maintenance capex amounted to $8.9 million.
As of Jun 30, 2024, USA Compression had a net long-term debt of $2.5 billion.
<h3>Guidance</h3>
USA Compression has increased its financial projections for 2024. The company now expects net income to range between $105 million and $125 million, up from the previous estimate of $95 million to $115 million.
Adjusted EBITDA is also projected to be higher, with a new range of $565 million to $585 million, compared to the prior outlook of $555 million to $575 million.
Furthermore, the company&#39;s management has also raised the expected distributable cash flow for 2024 to a range of $345 million to $365 million, an increase from the previous estimate of $340 million to $360 million.
USAC currently has a Zacks Rank #3 (Hold).
<h3>Important Energy Earnings So Far</h3>
Let&#39;s glance through a couple of energy earnings releases so far.
Liberty Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lbrt#NYSE">LBRT</a>), the Denver-CO-based oil and gas equipment company, announced second-quarter 2024 adjusted earnings of 61 cents per share, which marginally beat the Zacks Consensus Estimate of 60 cents. However, LBRT&#39;s bottom line underperformed the year-ago quarter&#39;s reported figure of 87 cents due to a year-over-year increase in costs and expenses.
Ahead of the earnings release, Liberty&#39;s board of directors announced a cash dividend of 7 cents per common share, payable on Sep 20, 2024, to its stockholders of record as of Sep 6. As part of its shareholder return policy, LBRT repurchased the company&#39;s shares worth $30 million at an average price of $20.39 per share in the reported quarter. Liberty returned $41 million to its shareholders through share repurchases and cash dividends.
Houston, TX-based Halliburton Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>), an oil and gas equipment and services provider, reported second-quarter 2024 adjusted net income per share of 80 cents, in line with the Zacks Consensus Estimate and above the year-ago quarter profit of 77 cents (adjusted). The robust numbers reflect strength in the international markets.
As of Jun 30, 2024, the company reported $2.1 billion in cash and cash equivalents and $7.6 billion in long-term debt, representing a debt-to-capitalization ratio of 43.2. HAL also bought back $250 million worth of its stock in the April-June period. The company generated $1.1 billion of cash flow from operations in the second quarter, leading to a free cash flow of $793 million.&nbsp;&nbsp;
Meanwhile, energy infrastructure provider Kinder Morgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) reported second-quarter adjusted earnings per share of 26 cents, in line with the Zacks Consensus Estimate. The bottom line was favorably impacted by strong financial contributions from the Natural Gas Pipelines, Products Pipelines and Terminals business segments. Moreover, KMI&#39;s second-quarter discounted cash flow (DCF) was $1.10 billion, up from $1.07 billion a year ago.
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As of Jun 30, 2024, Kinder Morgan reported $98 million in cash and cash equivalents. Its long-term debt amounted to $28.5 billion at quarter-end. For full-year 2024, KMI anticipates a DCF of $5 billion ($2.26 per share) and an adjusted EBITDA of $8.16 billion, each indicating 8% growth from the previous year&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2321357/usa-compression-usac-q2-earnings-revenues-top-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321357">To read this article on Zacks.com click here.</a>
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Earnings Beats

Mid Cap

Guidance

Dividends

LBRT

USAC

USA Compression Q2 Earnings & Revenues Top Estimates

Targa Resources Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trgp#NYSE">TRGP</a>) reported second-quarter 2024 earnings of $1.33 per share, which beat the Zacks Consensus Estimate of $1.21. The outperformance could be attributed to strong volumes across its systems in the reported quarter. However, the bottom line deteriorated from the year-ago quarter&#39;s level of $1.44. The year-over-year underperformance resulted from higher product costs.
Revenues totaled $3.6 billion, up 4.6% year over year. The increase was driven by higher sales of commodities and fees from midstream services year over year. However, the top line missed the Zacks Consensus Estimate of $4.3 billion.
The company&#39;s adjusted EBITDA for the second quarter totaled $984.3 million, up from $789.1 million in the prior-year period.
On Jul 11, Targa declared a quarterly cash dividend of 75 cents per common share or $3 on an annualized basis for the second quarter of 2024. Total cash dividends of approximately $164 million will be distributed on Aug 15, to its shareholders of record as of the close of business on Jul 31.
Targa repurchased more than 2.9 million shares of its common stock in this quarter, spending approximately $355 million at an average price of $118.91 per share. As of Jun 30, the company had $291.3 million remaining in its existing $1 billion share repurchase program. In July 2024, Targa&#39;s board authorized a new share repurchase program of up to $1 billion, increasing the total available funds for share repurchases to $1.3 billion.
In the second quarter, the company recorded significant volumes in the Permian Basin, indicating robust activity levels across the Permian Midland and Permian Delaware systems. Furthermore, the new 230 million cubic feet per day (MMcf/d) Roadrunner II plant in the Permian Delaware commenced operations and achieved high utilization in this period.
The company announced plans to build two new gas processing plants in the Permian Basin, each capable of processing 275 million cubic feet of gas per day.
<div class="chart_embed">
<h3>Targa Resources, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Targa Resources, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e4/1723110535.png" style="height:265px; width:583px" title="" />
Targa Resources, Inc. price-consensus-eps-surprise-chart | Targa Resources, Inc. Quote
</div>
<h3>Operational Performance&nbsp;</h3>
Gathering and Processing: The segment recorded an operating margin of $572.6 million, up 14% from $502.5 million recorded in the year-ago period.
This primarily reflects higher Permian Basin volumes that increased 12% year over year to an average of 5,671.5 MMcf/d
Logistics and Transportation: This unit mainly reflects the company&#39;s downstream operations. Its operating margin of $547.7 million increased 34.2% year over year. The rise can be attributed to higher pipeline transportation and fractionation, and LPG export margins.
The Logistics and Transportation segment saw its adjusted operating margin increase sequentially attributed to record-high NGL pipeline transportation and fractionation volumes. This growth was driven by increased NGL supplies from Targa&#39;s Permian G&amp;P operations.
TRGP&#39;s fractionation volumes totaled 902.2 thousand barrels per day, up 14% from 794.4 thousand barrels per day recorded a year ago. NGL pipeline transportation volumes rose 26% year over year, export volumes increased 30% and NGL sales saw an 8% improvement in the same period.
<h3>Costs, Capex &amp; Balance Sheet&nbsp;</h3>
Targa incurred product costs of $2.2 billion in the second quarter, up 6% from the year-ago quarter&#39;s actual. At the same time, the company reported operating expenses of $290.7 million, up 7% from the year-ago quarter&#39;s level of $272.6 million.
The company spent $798.7 million on growth capital programs compared with $579.5 million in the year-ago period.
As of Jun 30, TRGP had cash and cash equivalents of $166.4 million and long-term debt of $13 billion, with a debt-to-capitalization of around 75.7%.
<h3>Guidance</h3>
2024 Guidance: Targa Resources anticipates a strong year with adjusted EBITDA expected to reach between $3.95 billion and $4.05 billion, representing a 5% increase from the previous estimate. This growth is fueled by increased activity across its operations.
To accommodate higher volumes and new projects, the company expects its capital expenditure estimate for 2024 to be at $2.7 billion, with net maintenance capital expenditures totaling $225 million. This includes investments in new gas processing plants, expanded infrastructure and accelerated downstream connections in the Permian Basin. Targa expects to begin operations on the reactivation of Gulf Coast Fractionators in Mont Belvieu in the third quarter of 2024.
2025 Guidance: Targa expects continued growth in 2025, with significantly higher adjusted EBITDA and free cash flow compared to the previous prediction. This should increase the amount to be returned to its shareholders through dividend growth and share repurchases. &nbsp;
Capital expenditures are projected to decrease significantly in 2025 compared to 2024, as major projects like the Daytona NGL Pipeline and Train 10 fractionator are near completion. However, the company&#39;s management believes investments in Permian infrastructure will continue to drive growth.
2026 Guidance: The Bull Moose II plant is anticipated to start operations in the first quarter of 2026 and the East Pembrook plant is expected to commence operations in the third quarter. Blackcomb Pipeline is expected to start operating in the second half of 2026, subject to regulatory approval.
TRGP currently has a Zacks Rank #3 (Hold).
<h3>Important Energy Earnings So Far</h3>
While it&#39;s early in the earnings season, there have been a few key energy releases thus far. Let&#39;s glance through a couple of them.
Liberty Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lbrt#NYSE">LBRT</a>), the Denver-CO-based oil and gas equipment company, announced second-quarter 2024 adjusted earnings of 61 cents per share, which marginally beat the Zacks Consensus Estimate of 60 cents. However, LBRT&#39;s bottom line underperformed the year-ago quarter&#39;s reported figure of 87 cents due to a year-over-year increase in costs and expenses.
Ahead of the earnings release, Liberty&#39;s board of directors announced a cash dividend of 7 cents per common share, payable on Sep 20, 2024, to its stockholders of record as of Sep 6. As part of its shareholder return policy, LBRT repurchased the company&#39;s shares worth $30 million at an average price of $20.39 per share in the reported quarter. Liberty returned $41 million to its shareholders through share repurchases and cash dividends.
Houston, TX-based Halliburton Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>), an oil and gas equipment and services provider, reported second-quarter 2024 adjusted net income per share of 80 cents, in line with the Zacks Consensus Estimate and above the year-ago quarter profit of 77 cents (adjusted). The robust numbers reflect strength in the international markets.
As of Jun 30, 2024, the company reported $2.1 billion in cash and cash equivalents and $7.6 billion in long-term debt, representing a debt-to-capitalization ratio of 43.2. HAL also bought back $250 million worth of its stock in the April-June period. The company generated $1.1 billion of cash flow from operations in the second quarter, leading to a free cash flow of $793 million.&nbsp;&nbsp;
Meanwhile, energy infrastructure provider Kinder Morgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>)&nbsp;reported second-quarter adjusted earnings per share of 26 cents, in line with the Zacks Consensus Estimate. The bottom line was favorably impacted by strong financial contributions from the Natural Gas Pipelines, Products Pipelines and Terminals business segments. Moreover, KMI&#39;s second-quarter discounted cash flow (DCF) was $1.10 billion, up from $1.07 billion a year ago.
<div>
As of Jun 30, 2024, Kinder Morgan reported $98 million in cash and cash equivalents. Its long-term debt amounted to $28.5 billion at the quarter-end. For the full year 2024, KMI anticipates a DCF of $5 billion ($2.26 per share) and an adjusted EBITDA of $8.16 billion, each indicating 8% growth from the previous year&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2318815/targa-trgp-q2-earnings-beat-estimates-revenues-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2318815">To read this article on Zacks.com click here.</a>
</div>

TRGP

Targa Q2 Earnings Beat Estimates, Revenues Rise Y/Y

Amy W Chronis, Director at Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), disclosed an insider purchase on August 6, based on a new SEC filing.
What Happened: Chronis made a significant move by purchasing 9,732 shares of Kinder Morgan as reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001506307/000150630724000109//Archives/edgar/data/1506307/000150630724000109/0001506307-24-000109-index.htm">U.S. Securities and Exchange Commission</a>. The transaction's total worth stands at $200,986.
At Wednesday morning, Kinder Morgan shares are up by 2.15%, trading at $21.11.
<h3>Delving into Kinder Morgan's Background</h3>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Kinder Morgan: A Financial Overview</h3>
Revenue Growth: Over the 3 months period, Kinder Morgan showcased positive performance, achieving a revenue growth rate of 2.03% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Profitability Metrics: Unlocking Value
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Gross Margin: Achieving a high gross margin of 56.58%, the company performs well in terms of cost management and profitability within its sector.
</li>
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Earnings per Share (EPS): Kinder Morgan's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.26.
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</ul>
Debt Management: Kinder Morgan's debt-to-equity ratio is below the industry average. With a ratio of 1.04, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
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Price to Earnings (P/E) Ratio: With a higher-than-average P/E ratio of 18.95, Kinder Morgan's stock is perceived as being overvalued in the market.
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Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 2.99 suggests overvaluation in the eyes of investors, considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an impressive EV/EBITDA ratio of 11.86, Kinder Morgan demonstrates exemplary market valuation, surpassing industry averages.
</li>
</ul>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Essential Transaction Codes Unveiled</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001506307">Check Out The Full List Of Kinder Morgan's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Kinder Morgan Recent Insider Activity

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Shares of oil and gas companies are trading lower. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent US data, which could negatively impact demand.

RBC Capital analyst Elvira Scotto maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Sector Perform and raises the price target from $20 to $22.

RBC Capital Maintains Sector Perform on Kinder Morgan, Raises Price Target to $22

NOV Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nov#NYSE">NOV</a>) reported second-quarter 2024 adjusted earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 35 cents and increased from the year-ago quarter&#39;s level of 39 cents. The outperformance can be attributed to improving execution, customer demand and pricing.
The oil and gas equipment and services company&#39;s total revenues of $2.2 billion surpassed the Zacks Consensus Estimate by 1.5%. The top line also increased 5.9% from the year-ago quarter&#39;s figure of $2.1 billion. The better-than-expected performances in major segments are the influencing factors.
In the second quarter, NOV repurchased 2 million shares of common stock at an average price of $18.5 per share and increased its base dividend by 50%. NOV also recorded a net credit of $118 million, primarily attributed to gains from the divestiture of its Pole Products business.
The company declared an accelerated return of capital to its shareholders totaling $67 million in the quarter. This was executed through its share repurchases authorized under NOV&#39;s $1 billion program.
<div class="chart_embed">
<h3>NOV Inc. Price, Consensus and EPS Surprise</h3>
<img alt="NOV Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c2/1722244215.png" style="height:265px; width:577px" title="" />
NOV Inc. price-consensus-eps-surprise-chart | NOV Inc. Quote
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<h3>Segmental Performances</h3>
Energy Products and Services: The unit reported second-quarter revenues of $1.1 billion, which missed our projection of $1.07 billion, but exceeded the prior-year quarter&#39;s reported figure of $1 billion, attributed to strong demand in international and offshore markets.
Adjusted EBITDA of $184 million was below our estimate of $185.7 million. The reported actuals decreased from $198 million in the corresponding period of 2023, owing to declined North American activity.
Energy Equipment: Revenues in this segment increased 7.8% year over year to $1.2 billion. Additionally, the figure beat our projection of $1.15 billion.
Adjusted EBITDA of $142 million increased from the year-earlier quarter&#39;s level of $99 million. The segment&#39;s revenues and profitability increased because of solid demand for aftermarket products and services, strong execution on the growing capital equipment backlog and cost-saving initiatives. Additionally, the figure was more than our estimate of $140.7 million.
This segment experienced strong demand, with new orders of $977 million in the quarter, indicating a $466 million increase from that reported a year ago, resulting in a book-to-bill ratio of 177%.
As of Jun 30, the backlog for Energy Equipment capital orders was $4.3 billion, reflecting a $472 million increase from that reported a year ago.
<h3>Balance Sheet</h3>
As of Jun 30, 2024, the company had cash and cash equivalents of $827 million and long-term debt of $1.7 billion, with a debt-to-capitalization of 21.1%.
This Zacks Rank #3 (Hold) generated $432 million in operating cash flow and $350 million in free cash flow in this quarter.
<h3>Outlook</h3>
For the third quarter, the company&#39;s management projects consolidated revenues to be flat or increase by a low single-digit percentage range year-over-year, with adjusted EBITDA expected between $270 million and $305 million.
NOV&#39;s management also estimates consolidated revenue growth in the low to mid-single digits percent and Adjusted EBITDA between $1.10 billion and $1.18 billion for full-year 2024. The company expects capital expenditures to be $330 million for the same period.
NOV expects to maintain its commitment to returning excess free cash flow to its shareholders in the years ahead.
The company expects to return at least 50% of Excess Free Cash Flow through a combination of consistent quarterly base dividends, opportunistic stock buybacks and an annual supplemental dividend to adjust returns to its shareholders on an annual basis.
<h3>Important Energy Earnings So Far</h3>
While it&#39;s early in the earnings season, there have been a few key energy releases thus far. Let&#39;s glance through a couple of them.
Liberty Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lbrt#NYSE">LBRT</a>), the Denver-CO-based oil and gas equipment company, announced second-quarter 2024 adjusted earnings of 61 cents per share, which marginally beat the Zacks Consensus Estimate of 60 cents. However, LBRT&#39;s bottom line underperformed the year-ago quarter&#39;s reported figure of 87 cents due to a year-over-year increase in costs and expenses.
Ahead of the earnings release, Liberty&#39;s board of directors announced a cash dividend of 7 cents per common share, payable on Sep 20, 2024, to its stockholders of record as of Sep 6. As part of its shareholder return policy, LBRT repurchased the company&#39;s shares worth $30 million at an average price of $20.39 per share in the reported quarter. Liberty returned $41 million to its shareholders through share repurchases and cash dividends.
Houston, TX-based Halliburton Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>), an oil and gas equipment and services provider, reported second-quarter 2024 adjusted net income per share of 80 cents, in line with the Zacks Consensus Estimate and above the year-ago quarter profit of 77 cents (adjusted). The robust numbers reflect strength in the international markets.
As of Jun 30, 2024, the company reported $2.1 billion in cash and cash equivalents and $7.6 billion in long-term debt, representing a debt-to-capitalization ratio of 43.2. HAL also bought back $250 million worth of its stock in the April-June period. The company generated $1.1 billion of cash flow from operations in the second quarter, leading to a free cash flow of $793 million.&nbsp;&nbsp;
Meanwhile, energy infrastructure provider Kinder Morgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) reported second-quarter adjusted earnings per share of 26 cents, in line with the Zacks Consensus Estimate. The bottom line was favorably impacted by strong financial contributions from the Natural Gas Pipelines, Products Pipelines and Terminals business segments. Moreover, KMI&#39;s second-quarter discounted cash flow (DCF) was $1.10 billion, up from $1.07 billion a year ago.
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As of Jun 30, 2024, Kinder Morgan reported $98 million in cash and cash equivalents. Its long-term debt amounted to $28.5 billion at the quarter-end. For the full year 2024, KMI anticipates a DCF of $5 billion ($2.26 per share) and an adjusted EBITDA of $8.16 billion, each indicating 8% growth from the previous year&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2310556/nov-q2-earnings-surpass-estimates-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2310556">To read this article on Zacks.com click here.</a>
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NOV Q2 Earnings Surpass Estimates, Revenues Increase Y/Y

Barclays analyst Theresa Chen maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Equal-Weight and raises the price target from $20 to $21.

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Truist Securities analyst Neal Dingmann maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Hold and raises the price target from $20 to $22.

Truist Securities Maintains Hold on Kinder Morgan, Raises Price Target to $22

5 analysts have shared their evaluations of Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $22.8, along with a high estimate of $24.00 and a low estimate of $21.00. This current average reflects an increase of 15.44% from the previous average price target of $19.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1721916009_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The analysis of recent analyst actions sheds light on the perception of Kinder Morgan by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$23.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Bill Selesky</td>
<td>Argus Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$24.00</td>
<td>-</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$21.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Brian Reynolds</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$18.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Kinder Morgan. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Kinder Morgan compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Kinder Morgan's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Kinder Morgan's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KMI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kinder Morgan analyst ratings.</a>
<h2>All You Need to Know About Kinder Morgan</h2>
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 82,000 miles in pipelines and 139 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.
<h3>Kinder Morgan: A Financial Overview</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Kinder Morgan's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 2.03%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 16.01%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Kinder Morgan's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.88%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Kinder Morgan's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.81%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.04.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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