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

Kinder Morgan (NYSE:KMI) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34, Yahoo Finance reports. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $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 Stock Performance

Kinder Morgan stock opened at $18.84 on Friday. The firm has a market capitalization of $41.81 billion, a P/E ratio of 17.13, a PEG ratio of 4.98 and a beta of 0.90. The stock has a fifty day moving average price of $17.78 and a 200 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 company has a current ratio of 0.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95.

Kinder Morgan Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on KMI shares. StockNews.com cut Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and set a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six equities research 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 stock presently has an average rating of “Hold” and an average target price of $20.20.

Hedge Funds Weigh In On Kinder Morgan

Institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new stake in Kinder Morgan during the first quarter valued at about $93,000. American Century Companies Inc. grew 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 valued at $1,739,000 after acquiring an additional 10,079 shares during the period. Acadian Asset Management LLC boosted its position in shares of Kinder Morgan by 48,564.7% in the first quarter. Acadian Asset Management LLC now owns 8,273 shares of the pipeline company’s stock worth $156,000 after buying an additional 8,256 shares during the period. Synovus Financial Corp boosted its position in shares of Kinder Morgan by 1.6% in the first quarter. Synovus Financial Corp now owns 90,218 shares of the pipeline company’s stock worth $1,705,000 after buying an additional 1,408 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Kinder Morgan in the first quarter worth about $263,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.