Kinder Morgan (NYSE:KMI) Releases FY24 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.22 for the period, compared to the consensus earnings per share estimate of $1.21. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on KMI shares. Truist Financial reiterated 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 cut 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $20.20.

Kinder Morgan Price Performance

NYSE:KMI opened at $18.22 on Friday. The company has a 50 day moving average price of $17.74 and a 200-day moving average price of $17.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.35 and a quick ratio of 0.28. Kinder Morgan has a 1-year low of $15.89 and a 1-year high of $18.72. 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 (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS 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 earned $0.30 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts forecast that Kinder Morgan will post 1.19 EPS for the current year.

Kinder Morgan Increases Dividend

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

Institutional Investors Weigh In On Kinder Morgan

A number of large investors have recently made changes to their positions in the stock. First Capital Advisors Group LLC. acquired a new position in Kinder Morgan in the second quarter valued at approximately $29,000. LM Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter worth approximately $41,000. Garner Asset Management Corp purchased a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $44,000. Certified Advisory Corp purchased a new position in shares of Kinder Morgan during the first quarter worth about $49,000. Finally, Clearstead Advisors LLC increased its position in Kinder Morgan by 67.6% during the third quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,389 shares during the period. 62.52% of the stock is currently owned by hedge funds and other 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.