Kinder Morgan (NYSE:KMI) Announces Earnings Results, Hits Expectations

Kinder Morgan (NYSE:KMI) posted its earnings results on Wednesday. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Kinder Morgan updated its FY24 guidance to $1.22 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Trading Up 3.3 %

Shares of KMI traded up $0.61 during mid-day trading on Friday, hitting $18.82. 9,958,715 shares of the company’s stock traded hands, compared to its average volume of 14,054,637. The firm has a market capitalization of $41.77 billion, a P/E ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. The business’s 50-day moving average price is $17.74 and its 200-day moving average price is $17.37. Kinder Morgan has a 1 year low of $15.89 and a 1 year high of $18.88. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.2875 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s payout ratio is 102.73%.

Institutional Investors Weigh In On Kinder Morgan

Several hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased its position in Kinder Morgan by 102,208.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after acquiring an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Kinder Morgan by 1,352.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock valued at $665,401,000 after acquiring an additional 34,269,435 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kinder Morgan by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 28,792,278 shares of the pipeline company’s stock valued at $544,462,000 after acquiring an additional 988,042 shares during the last quarter. Morgan Stanley increased its position in Kinder Morgan by 8.9% during the fourth quarter. Morgan Stanley now owns 22,573,449 shares of the pipeline company’s stock valued at $408,128,000 after acquiring an additional 1,846,231 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Kinder Morgan by 20.3% during the fourth quarter. Legal & General Group Plc now owns 21,748,574 shares of the pipeline company’s stock valued at $383,644,000 after acquiring an additional 3,662,856 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KMI has been the subject of several research reports. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report 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 report 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.20.

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.