Kinder Morgan Inc (KMI) Fails to Impress With Q4 Earnings

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Kinder Morgan Inc (NYSE:KMI) reported earnings that were below estimates for the fourth quarter of 2016.

Kinder Morgan Inc, KMIRevenue reported by Kinder Morgan Inc during the fourth quarter of 2016 was $3.39 billion. This is down from the revenue of $3.64 billion that it reported during the same time last year. It also didn’t meet Wall Street’s revenue estimate of $3.54 billion for the quarter.

Kinder Morgan Inc reported earnings per share of 8 cents for the fourth quarter of the year. This is up from its losses per share of 32 cents from the fourth quarter of 2015. However, it failed to reach the 18 cents per share that analysts were looking for in the fourth quarter.

Net income reported by Kinder Morgan Inc for the fourth quarter of 2016 was $170 million. The energy company reported a net loss of $721 million during the same period from the year prior. Operating income for the quarter was $934 million, which is up from the loss of $244 million in the fourth quarter of 2015.

Kinder Morgan Inc also announced that it will be paying a dividend of 12.5 cents per share to shareholders. This dividend will be payable on Feb. 15, 2017 to shareholders on record as of Feb. 1, 2017. The annualized dividend for 2016 is 50 cents.

For the current year, Kinder Morgan Inc is expecting another 50-cent dividend for shareholders. It is also looking for $4.46 billion in distributable cash flow and $7.2 billion for Adjusted EBITDA. The company is also planning to invest $3.2 billion in growth projects during the year.

KMI stock was down 1% as of Noon Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/01/kinder-morgan-inc-kmi/.

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