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

Kinder Morgan (NYSE:KMI) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The company 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. Kinder Morgan updated its FY24 guidance to $1.22 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Up 2.6 %

Shares of Kinder Morgan stock opened at $18.22 on Friday. The stock’s 50-day moving average is $17.74 and its 200 day moving average is $17.37. Kinder Morgan has a one year low of $15.89 and a one year high of $18.72. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 4.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.35 and a quick ratio of 0.28.

Kinder Morgan Increases Dividend

The firm 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. 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. This represents a $1.15 annualized dividend and a dividend yield of 6.31%. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Hedge Funds Weigh In On Kinder Morgan

Several institutional investors have recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $323,000. SageView Advisory Group LLC boosted its stake in Kinder Morgan by 13.8% during the fourth quarter. SageView Advisory Group LLC now owns 23,460 shares of the pipeline company’s stock worth $404,000 after acquiring an additional 2,853 shares in the last quarter. Oarsman Capital Inc. acquired a new stake in Kinder Morgan in the fourth quarter worth $177,000. Harbour Investments Inc. increased its stake in Kinder Morgan by 10.1% in the fourth quarter. Harbour Investments Inc. now owns 24,084 shares of the pipeline company’s stock valued at $425,000 after purchasing an additional 2,217 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Kinder Morgan by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 989,726 shares of the pipeline company’s stock valued at $17,459,000 after purchasing an additional 3,683 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on KMI. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial restated a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.