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

Kinder Morgan (NYSE:KMI) updated its FY 2024 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

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

Kinder Morgan Trading Up 0.4 %

Shares of KMI stock opened at $17.76 on Thursday. The firm has a 50 day moving average price of $17.71 and a two-hundred day moving average price of $17.36. 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 company has a market capitalization of $39.42 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $18.72.

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, hitting the consensus estimate of $0.34. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 15.59% and a return on equity of 7.57%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. As a group, analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Harbour Investments Inc. increased its holdings in shares of 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 period. Moneta Group Investment Advisors LLC increased its holdings in shares of 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 period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of 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 period. Pinnacle West Asset Management Inc. increased its holdings in shares of Kinder Morgan by 1.2% during the second quarter. Pinnacle West Asset Management Inc. now owns 79,083 shares of the pipeline company’s stock worth $1,362,000 after purchasing an additional 950 shares during the period. Finally, Brinker Capital Investments LLC increased its holdings in shares of Kinder Morgan by 1.3% during the first quarter. Brinker Capital Investments LLC now owns 77,635 shares of the pipeline company’s stock worth $1,468,000 after purchasing an additional 985 shares during the period. 62.52% of the stock is 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.