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

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

Kinder Morgan Trading Up 3.5 %

NYSE KMI opened at $18.84 on Friday. Kinder Morgan has a one year low of $15.89 and a one year high of $18.90. The company’s 50 day moving average price is $17.78 and its 200 day moving average price is $17.39. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.50. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 4.98 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the company earned $0.30 earnings per share. Kinder Morgan’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Kinder Morgan will post 1.22 EPS for the current year.

Kinder Morgan Increases Dividend

The company 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 is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.15 annualized dividend and a yield of 6.10%. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Analysts Set New Price Targets

Several brokerages have issued reports on KMI. Truist Financial reaffirmed a hold rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com downgraded shares of Kinder Morgan from a buy rating to a hold rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kinder Morgan presently has an average rating of Hold and a consensus price target of $20.20.

Hedge Funds Weigh In On Kinder Morgan

Several large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in Kinder Morgan by 4.2% during the second quarter. Harbour Investments Inc. now owns 19,951 shares of the pipeline company’s stock worth $344,000 after purchasing an additional 811 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Kinder Morgan by 2.0% during the first quarter. Moneta Group Investment Advisors LLC now owns 41,045 shares of the pipeline company’s stock worth $719,000 after purchasing an additional 811 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Kinder Morgan by 1.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 57,915 shares of the pipeline company’s stock worth $1,047,000 after purchasing an additional 870 shares during the last quarter. Pinnacle West Asset Management Inc. lifted its stake in Kinder Morgan by 1.2% in the second quarter. Pinnacle West Asset Management Inc. now owns 79,083 shares of the pipeline company’s stock valued at $1,362,000 after buying an additional 950 shares during the last quarter. Finally, Brinker Capital Investments LLC lifted its stake in Kinder Morgan by 1.3% in the first quarter. Brinker Capital Investments LLC now owns 77,635 shares of the pipeline company’s stock valued at $1,468,000 after buying an additional 985 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

About Kinder Morgan

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.