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

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

Kinder Morgan Trading Up 0.4 %

KMI stock traded up $0.07 during midday trading on Wednesday, hitting $17.76. The company had a trading volume of 12,949,792 shares, compared to its average volume of 13,968,672. 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 52 week low of $15.89 and a 52 week high of $18.72. The stock’s 50 day moving average price is $17.68 and its 200 day moving average price is $17.36. The stock has a market cap of $39.42 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 5.03 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. As a group, equities research analysts expect that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KMI. Truist Financial restated a hold rating and set a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com cut Kinder Morgan from a buy rating to a hold rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $20.20.

Institutional Investors Weigh In On Kinder Morgan

Several institutional investors have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. grew its position in shares of Kinder Morgan by 20.5% during the second 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 in the last quarter. Resurgent Financial Advisors LLC purchased a new position in Kinder Morgan during the 4th quarter valued at approximately $103,000. Fairfield Bush & CO. purchased a new position in Kinder Morgan during the 1st quarter valued at approximately $93,000. Coppell Advisory Solutions Corp. purchased a new position in Kinder Morgan during the 4th quarter valued at approximately $77,000. Finally, Mango Five Family Inc. purchased a new position in Kinder Morgan during the 4th quarter valued at approximately $71,000. 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.