Kinder Morgan (NYSE:KMI) Announces Earnings Results

Kinder Morgan (NYSE:KMI) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34, Yahoo Finance reports. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company earned $0.30 EPS. Kinder Morgan’s revenue was down 1.2% on a year-over-year basis. Kinder Morgan updated its FY24 guidance to $1.22 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Trading Up 2.6 %

Shares of KMI stock opened at $18.22 on Friday. Kinder Morgan has a 12 month low of $15.89 and a 12 month high of $18.72. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88. The company has a market cap of $40.44 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. The business’s 50 day moving average is $17.74 and its two-hundred day moving average is $17.37.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.31%. The ex-dividend date is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KMI shares. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kinder Morgan has an average rating of “Hold” and an average target price of $20.20.

Institutional Investors Weigh In On Kinder Morgan

Several hedge funds have recently modified their holdings of KMI. First Capital Advisors Group LLC. bought a new stake in shares of Kinder Morgan in the second quarter valued at approximately $29,000. LM Advisors LLC bought a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $41,000. Garner Asset Management Corp bought a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $44,000. Certified Advisory Corp bought a new stake in shares of Kinder Morgan in the first quarter valued at approximately $49,000. Finally, Clearstead Advisors LLC boosted its position in shares of Kinder Morgan by 67.6% in the third quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,389 shares during the period. 62.52% of the stock is owned by institutional investors.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.