Kinder Morgan (NYSE:KMI) Issues Earnings Results, Hits Expectations

Kinder Morgan (NYSE:KMI) released its quarterly earnings data on Wednesday. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. 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 %

Shares of NYSE:KMI traded up $0.65 during trading on Friday, reaching $18.86. The stock had a trading volume of 8,343,368 shares, compared to its average volume of 14,040,108. The business has a fifty day moving average price of $17.74 and a 200-day moving average price of $17.37. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88. The stock has a market cap of $41.86 billion, a P/E ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. Kinder Morgan has a fifty-two week low of $15.89 and a fifty-two week high of $18.88.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend 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 payout ratio is currently 102.73%.

Analysts Set New Price Targets

Several brokerages have issued reports on KMI. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.20.

Hedge Funds Weigh In On Kinder Morgan

A number of institutional investors have recently modified their holdings of KMI. Fairfield Bush & CO. acquired a new position in Kinder Morgan during the first quarter worth approximately $93,000. American Century Companies Inc. increased its position in Kinder Morgan by 12.3% during the first quarter. American Century Companies Inc. now owns 91,931 shares of the pipeline company’s stock worth $1,739,000 after purchasing an additional 10,079 shares during the last quarter. Acadian Asset Management LLC increased its position in Kinder Morgan by 48,564.7% during the first quarter. Acadian Asset Management LLC now owns 8,273 shares of the pipeline company’s stock worth $156,000 after purchasing an additional 8,256 shares during the last quarter. Synovus Financial Corp increased its position in Kinder Morgan by 1.6% during the first quarter. Synovus Financial Corp now owns 90,218 shares of the pipeline company’s stock worth $1,705,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Kinder Morgan during the first quarter worth approximately $263,000. 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.