Kinder Morgan (NYSE:KMI) Announces Quarterly Earnings Results

Kinder Morgan (NYSE:KMI) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34, Yahoo Finance reports. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 Stock Performance

Kinder Morgan stock opened at $18.22 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.88. Kinder Morgan has a 1 year low of $15.89 and a 1 year high of $18.72. The company has a market cap of $40.44 billion, a PE ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. The company’s 50-day moving average is $17.74 and its two-hundred day moving average is $17.37.

Kinder Morgan Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. First Capital Advisors Group LLC. acquired a new position in Kinder Morgan during the 2nd quarter valued at about $29,000. LM Advisors LLC acquired a new position in Kinder Morgan during the 4th quarter valued at about $41,000. Garner Asset Management Corp acquired a new position in Kinder Morgan during the 4th quarter valued at about $44,000. Certified Advisory Corp bought a new stake in shares of Kinder Morgan in the 1st quarter valued at about $49,000. Finally, Clearstead Advisors LLC increased its stake in shares of Kinder Morgan by 67.6% in the 3rd quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,389 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.