Kinder Morgan (NYSE:KMI) Posts Earnings Results, Hits Estimates

Kinder Morgan (NYSE:KMI) released its quarterly earnings data on Wednesday. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. 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 %

KMI opened at $18.22 on Friday. The stock has a market capitalization of $40.44 billion, a PE ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. Kinder Morgan has a 1-year low of $15.89 and a 1-year high of $18.72. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $17.74 and a two-hundred day moving average price of $17.37.

Kinder Morgan Increases Dividend

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

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of recent analyst reports. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reiterated a “hold” rating and set a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Capital Advisors Group LLC. acquired a new position in shares of Kinder Morgan in the second quarter valued at approximately $29,000. LM Advisors LLC acquired a new position in shares of Kinder Morgan in the fourth quarter valued at approximately $41,000. Garner Asset Management Corp acquired a new position in shares of Kinder Morgan in the fourth quarter valued at approximately $44,000. Certified Advisory Corp acquired a new position in shares of Kinder Morgan in the first quarter valued at approximately $49,000. Finally, Clearstead Advisors LLC boosted its holdings 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 buying an additional 1,389 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Company Profile

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.