Kinder Morgan Energy Partners Misses Q2 EPS Expectations (KMP)
Houston-based pipeline transportation and energy storage company, Kinder Morgan Energy Partners (KMP), released Q2 earnings after the bell on Wednesday, which fell short of analysts’ expectations.The energy bellwether reported Q2 earnings-per-share of $0.49, falling short of the expected analyst consensus estimate of $0.61; some investors responded by taking profits as the stock crept slightly lower in after hours trading. On the other hand, the company reported better-than-expected revenues, managing to rake in $3.02 billion for the quarter versus the expected figure of $2.7 billion.
The company missed Q2 earnings estimates last year as well, when it reported EPS of $0.37 versus the expected $0.47. Shares are trading nearly 7% off their 52-week high of $92.99 set on 4/24.
Kinder Morgan Energy Partners shares crept higher on Wednesday, gaining 0.72% on the day. The stock is up nearly 9% YTD.
The Bottom Line
Shares of Kinder Morgan Energy Partners (KMP) are yielding 6.00% based on Wednesday’s closing price of $86.73.
Kinder Morgan Energy Partners (KMP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability