Kinder Morgan (NYSE:KMI) Issues Earnings Results

Kinder Morgan (NYSE:KMI) released its quarterly earnings results on Wednesday. The pipeline company reported $0.34 EPS for the quarter, meeting 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 company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the business posted $0.30 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Kinder Morgan updated its FY24 guidance to $1.22 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Up 2.6 %

Kinder Morgan stock opened at $18.22 on Friday. The firm 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. Kinder Morgan has a 52 week low of $15.89 and a 52 week high of $18.72. The business’s 50-day moving average price is $17.74 and its 200 day moving average price is $17.37. 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 Increases Dividend

The business also recently announced 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 represents a $1.15 annualized dividend and a yield of 6.31%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial reissued a “hold” rating and issued a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com lowered 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of “Hold” and a consensus price target of $20.20.

Institutional Trading of Kinder Morgan

Several hedge funds and other institutional investors have recently bought and sold shares of KMI. First Capital Advisors Group LLC. purchased a new stake in shares of Kinder Morgan in the second quarter valued at approximately $29,000. LM Advisors LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $41,000. Garner Asset Management Corp purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $44,000. Certified Advisory Corp purchased a new stake in shares of Kinder Morgan in the first quarter valued at approximately $49,000. Finally, Clearstead Advisors LLC increased 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 buying an additional 1,389 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

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.