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

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34, Yahoo Finance reports. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. 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 3.6 %

NYSE:KMI traded up $0.65 on Friday, hitting $18.86. 8,343,368 shares of the stock were exchanged, compared to its average volume of 14,040,108. The stock has a market capitalization of $41.86 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90. Kinder Morgan has a 52 week low of $15.89 and a 52 week high of $18.88. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.28 and a current ratio of 0.35. The company’s 50-day moving average price is $17.74 and its 200 day moving average price is $17.37.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s payout ratio is currently 102.73%.

Institutional Trading of Kinder Morgan

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. bought a new stake in Kinder Morgan during the 2nd quarter worth about $29,000. LM Advisors LLC bought a new stake in shares of Kinder Morgan in the 4th quarter valued at about $41,000. Garner Asset Management Corp bought a new stake in shares of Kinder Morgan in 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 owned by institutional investors.

Analyst Ratings Changes

KMI has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price target (down 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 report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Kinder Morgan currently has a consensus rating of “Hold” and a consensus target price 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.