Kinder Morgan (NYSE:KMI) Issues Earnings Results

Kinder Morgan (NYSE:KMI) posted 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. 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 for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the company earned $0.30 EPS. The company’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 %

NYSE KMI opened at $18.22 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88. Kinder Morgan has a twelve month low of $15.89 and a twelve month high of $18.72. The company has a market cap of $40.44 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. The business’s fifty day moving average is $17.74 and its 200 day moving average is $17.37.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. This is an increase 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 dividend yield of 6.31%. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Analysts Set New Price Targets

A number of research firms have commented on KMI. Truist Financial restated a “hold” rating and set a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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. acquired a new stake in shares of Kinder Morgan during the 2nd quarter valued at $29,000. LM Advisors LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at $41,000. Garner Asset Management Corp acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at $44,000. Certified Advisory Corp acquired a new stake in shares of Kinder Morgan during the 1st quarter valued at $49,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Kinder Morgan by 67.6% during the 3rd 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 in the last quarter. 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.