Kinder Morgan (NYSE:KMI) Releases FY 2024 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.220-1.220 for the period, compared to the consensus estimate of 1.220. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.22 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on KMI. StockNews.com lowered Kinder Morgan from a buy rating to a hold rating in a research note on Friday, March 1st. Truist Financial reiterated a hold rating and set a $20.00 price objective (down 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $20.20.

Kinder Morgan Stock Performance

Kinder Morgan stock 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 fifty day moving average price of $17.78 and a two-hundred day moving average price of $17.39. Kinder Morgan has a 52-week low of $15.89 and a 52-week high of $18.90. The firm has a market capitalization of $41.81 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.98 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, analysts anticipate that Kinder Morgan will post 1.22 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced 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 represents a $1.15 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

Institutional Investors Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently bought and sold shares of KMI. Moneta Group Investment Advisors LLC raised its position in Kinder Morgan by 102,208.0% in 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 buying an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Kinder Morgan by 1,352.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock worth $665,401,000 after purchasing an additional 34,269,435 shares during the last quarter. Norges Bank acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $256,613,000. Goldman Sachs Group Inc. increased its position in shares of Kinder Morgan by 33.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,531,219 shares of the pipeline company’s stock worth $273,971,000 after purchasing an additional 3,894,930 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth approximately $69,969,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

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.