Kinder Morgan Beats Profit Forecast With Record Quarter
Kinder Morgan reported quarterly earnings of $0.35 per share, beating the $0.32 estimate. The pipeline company said third-quarter results were record-setting, with EPS and adjusted EPS up 21% from a year earlier and a $5.4 billion expansion backlog. It kept its quarterly dividend at $0.2975 per share, and the stock rose 1.2% to $33.97.
Kinder Morgan’s $0.35 quarterly profit per share exceeded the $0.32 consensus by three cents. The pipeline operator described the period as its strongest third quarter, with per-share earnings and adjusted per-share earnings each 21% higher than a year earlier. It also added $5.4 billion to its expansion-project backlog, which it called the largest natural-gas project backlog in its history.
The board kept the quarterly dividend at $0.2975, equal to $1.19 annualized. Shares gained 1.2% to $33.97. Analysts tracked before the report averaged a “Moderate Buy” rating and a $35.47 target, while an insider sale occurred under a pre-arranged trading plan.
The record results and larger gas-project backlog may matter beyond shareholders. Kinder Morgan’s pipeline network can affect how reliably natural gas reaches utilities, manufacturers, and households, so expansion could influence energy costs and service in some regions. Income-focused investors, including retirees, may watch the maintained dividend, while construction and maintenance spending could support local jobs. Still, project timing, regulation, and commodity cycles could alter those effects.