Kinder Morgan (NYSE:KMI) Releases Earnings Results, Meets Expectations

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The business 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 company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business 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 Price Performance

Shares of NYSE:KMI opened at $18.22 on Friday. 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 has a fifty-two week low of $15.89 and a fifty-two week high of $18.72. The firm has a 50-day simple moving average of $17.74 and a 200 day simple moving average of $17.37. The company has a market cap of $40.44 billion, a PE ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90.

Kinder Morgan Increases Dividend

The firm also recently disclosed 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 represents a $1.15 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio is currently 102.73%.

Analysts Set New Price Targets

KMI has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Truist Financial restated 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. grew its position in Kinder Morgan by 20.5% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 6,043 shares of the pipeline company’s stock worth $104,000 after purchasing an additional 1,028 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Kinder Morgan in the 4th quarter worth about $103,000. Fairfield Bush & CO. bought a new position in Kinder Morgan in the 1st quarter worth about $93,000. Coppell Advisory Solutions Corp. bought a new position in Kinder Morgan in the 4th quarter worth about $77,000. Finally, Mango Five Family Inc. bought a new position in Kinder Morgan in the 4th quarter worth about $71,000. 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.