Kinder Morgan (NYSE:KMI) Updates FY 2024 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.220-1.220 for the period, compared to the consensus estimate of 1.220. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.22 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Kinder Morgan from a buy rating to a hold rating in a report on Friday, March 1st. Truist Financial reissued a hold rating and set a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of Hold and a consensus price target of $20.20.

Kinder Morgan Stock Performance

Kinder Morgan 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 stock has a 50-day simple moving average of $17.74 and a 200 day simple moving average of $17.37. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

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

Institutional Trading of Kinder Morgan

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in Kinder Morgan by 102,208.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after purchasing an additional 41,030,376 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Kinder Morgan by 1,352.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock worth $665,401,000 after purchasing an additional 34,269,435 shares in the last quarter. Norges Bank acquired a new position in shares of Kinder Morgan in the 4th quarter valued at $256,613,000. Goldman Sachs Group Inc. raised its stake in Kinder Morgan by 33.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,531,219 shares of the pipeline company’s stock worth $273,971,000 after buying an additional 3,894,930 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Kinder Morgan during the first quarter worth about $69,969,000. 62.52% of the stock is owned by institutional investors.

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.