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

Kinder Morgan (NYSE:KMI) posted 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. 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 during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. 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

Shares of Kinder Morgan stock opened at $18.84 on Friday. Kinder Morgan has a fifty-two week low of $15.89 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The firm has a market capitalization of $41.81 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.98 and a beta of 0.90. The company’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $17.39.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a 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 dividend payout ratio (DPR) is 102.73%.

Institutional Trading of Kinder Morgan

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its position in Kinder Morgan by 4.2% in the second quarter. Harbour Investments Inc. now owns 19,951 shares of the pipeline company’s stock valued at $344,000 after buying an additional 811 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Kinder Morgan by 2.0% during the first quarter. Moneta Group Investment Advisors LLC now owns 41,045 shares of the pipeline company’s stock worth $719,000 after purchasing an additional 811 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Kinder Morgan by 1.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 57,915 shares of the pipeline company’s stock worth $1,047,000 after purchasing an additional 870 shares during the period. Pinnacle West Asset Management Inc. lifted its holdings in shares of Kinder Morgan by 1.2% during the second quarter. Pinnacle West Asset Management Inc. now owns 79,083 shares of the pipeline company’s stock worth $1,362,000 after purchasing an additional 950 shares during the period. Finally, Brinker Capital Investments LLC lifted its holdings in shares of Kinder Morgan by 1.3% during the first quarter. Brinker Capital Investments LLC now owns 77,635 shares of the pipeline company’s stock worth $1,468,000 after purchasing an additional 985 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KMI shares. Truist Financial restated a “hold” rating and set a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com cut 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 given a buy rating to the company’s stock. According to MarketBeat, the company 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.