Kinder Morgan (NYSE:KMI) Releases Earnings Results

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. Kinder Morgan’s revenue for the quarter 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 Trading Up 2.6 %

NYSE KMI opened at $18.22 on Friday. Kinder Morgan has a 12 month low of $15.89 and a 12 month high of $18.72. The firm has a market capitalization of $40.44 billion, a P/E ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. The business has a fifty day simple moving average of $17.74 and a 200 day simple moving average of $17.37. 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 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 $0.2875 dividend. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s dividend payout ratio is presently 102.73%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KMI shares. Truist Financial reaffirmed a “hold” rating and set a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. 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.com, the stock presently has an average rating of “Hold” and an average target price of $20.20.

Institutional Investors Weigh In On Kinder Morgan

Several large investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its position in shares of Kinder Morgan by 102,208.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after purchasing an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kinder Morgan by 1,352.5% in 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 purchasing an additional 34,269,435 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Kinder Morgan by 3.6% in 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 purchasing an additional 988,042 shares during the period. Morgan Stanley raised its position in shares of Kinder Morgan by 8.9% in the fourth quarter. Morgan Stanley now owns 22,573,449 shares of the pipeline company’s stock valued at $408,128,000 after purchasing an additional 1,846,231 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Kinder Morgan by 20.3% in 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 purchasing an additional 3,662,856 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

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.