Kinder Morgan (NYSE:KMI) Releases Quarterly Earnings Results, Hits Estimates

Kinder Morgan (NYSE:KMI) issued 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 net margin of 16.08% and a return on equity of 7.85%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the business earned $0.30 earnings per share. The business’s quarterly 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 Stock Performance

NYSE:KMI opened at $18.22 on Friday. The firm has a market cap of $40.44 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. Kinder Morgan has a fifty-two week low of $15.89 and a fifty-two week high of $18.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.28 and a current ratio of 0.35. The business has a 50 day moving average price of $17.74 and a 200-day moving average price of $17.37.

Kinder Morgan Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on KMI shares. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reiterated a “hold” rating and set a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.20.

Institutional Trading of Kinder Morgan

Institutional investors have recently made changes to their positions in the stock. First Capital Advisors Group LLC. purchased a new stake in shares of Kinder Morgan during the second quarter valued at approximately $29,000. LM Advisors LLC purchased a new stake in Kinder Morgan in the fourth quarter worth $41,000. Certified Advisory Corp purchased a new stake in Kinder Morgan in the first quarter worth $49,000. Garner Asset Management Corp purchased a new stake in Kinder Morgan in the fourth quarter worth $44,000. Finally, Clearstead Advisors LLC lifted its stake in Kinder Morgan by 67.6% in the third quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors 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.