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 (EPS) guidance of $1.22 for the period, compared to the consensus estimate of $1.21. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Analysts Set New Price Targets

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

Kinder Morgan Stock Up 3.5 %

KMI opened at $18.84 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 4.98 and a beta of 0.90. The business has a 50-day moving average of $17.78 and a two-hundred day moving average of $17.39. Kinder Morgan has a 12 month low of $15.89 and a 12 month high of $18.90.

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

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.10%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s payout ratio is presently 102.73%.

Institutional Trading of Kinder Morgan

Institutional investors have recently modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Kinder Morgan during the 2nd quarter worth about $29,000. LM Advisors LLC acquired a new position in Kinder Morgan during the 4th quarter worth approximately $41,000. Garner Asset Management Corp acquired a new position in Kinder Morgan during the 4th quarter worth approximately $44,000. Certified Advisory Corp acquired a new position in Kinder Morgan during the 1st quarter worth approximately $49,000. Finally, Clearstead Advisors LLC lifted its position in Kinder Morgan by 67.6% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

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.