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

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 net margin of 16.08% and a return on equity of 7.85%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the firm posted $0.30 earnings per share. 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 Price Performance

Shares of Kinder Morgan stock traded up $0.61 during trading on Friday, hitting $18.82. 9,958,715 shares of the company’s stock traded hands, compared to its average volume of 14,054,637. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.35 and a quick ratio of 0.28. The firm’s fifty day moving average price is $17.74 and its 200 day moving average price is $17.37. Kinder Morgan has a twelve month low of $15.89 and a twelve month high of $18.88. The company has a market cap of $41.77 billion, a PE ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.2875 per share. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s payout ratio is 102.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of 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 issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.20.

Hedge Funds Weigh In On Kinder Morgan

Institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. lifted its holdings in Kinder Morgan by 20.5% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 6,043 shares of the pipeline company’s stock valued at $104,000 after purchasing an additional 1,028 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Kinder Morgan during the 4th quarter valued at about $103,000. Fairfield Bush & CO. bought a new position in Kinder Morgan during the 1st quarter valued at about $93,000. Coppell Advisory Solutions Corp. bought a new position in Kinder Morgan during the 4th quarter valued at about $77,000. Finally, Mango Five Family Inc. bought a new position in Kinder Morgan during the 4th quarter valued at about $71,000. 62.52% of the stock is owned by 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.