Shares of Kinder Morgan (NYSE:KMI) slipped in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.28, which missed analysts’ consensus estimate of $0.30 per share.
Sales decreased by 11.8% year-over-year, with revenue hitting $4.04 billion. This missed analysts’ expectations by $360 million.
Looking forward, management now expects distributable cash flow and adjusted earnings per share for FY 2024 to be $2.21 and $1.21, respectively.
Is KMI a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on KMI stock based on five Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average KMI price target of $20.33 per share implies 16.1% upside potential.
