Kinder Morgan (NYSE:KMI) Issues FY24 Earnings Guidance

Kinder Morgan (NYSE:KMI) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $1.22 for the period, compared to the consensus EPS estimate of $1.21. Kinder Morgan also updated its FY 2024 guidance to 1.220-1.220 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KMI. StockNews.com lowered Kinder Morgan from a buy rating to a hold rating in a research note on Friday, March 1st. Truist Financial reissued a hold rating and issued a $20.00 price objective (down previously 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $20.20.

Kinder Morgan Trading Up 3.5 %

KMI stock opened at $18.84 on Friday. The company has a market cap of $41.81 billion, a P/E ratio of 17.13, a PEG ratio of 4.98 and a beta of 0.90. Kinder Morgan has a twelve month low of $15.89 and a twelve month high of $18.90. The company has a quick ratio of 0.28, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $17.78 and a 200-day moving average of $17.39.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, equities research analysts expect that Kinder Morgan will post 1.22 EPS for the current year.

Kinder Morgan Increases Dividend

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

Institutional Investors Weigh In On Kinder Morgan

Several large investors have recently modified their holdings of the business. Hobbs Group Advisors LLC bought a new stake in shares of Kinder Morgan in the fourth quarter worth about $323,000. SageView Advisory Group LLC increased its holdings in shares of Kinder Morgan by 13.8% in 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. bought a new stake in shares of Kinder Morgan in the fourth quarter worth about $177,000. Harbour Investments Inc. increased its holdings in shares of Kinder Morgan by 10.1% in the fourth quarter. Harbour Investments Inc. now owns 24,084 shares of the pipeline company’s stock worth $425,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Kinder Morgan by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 989,726 shares of the pipeline company’s stock worth $17,459,000 after acquiring an additional 3,683 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

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.