Kinder Morgan (NYSE:KMI) Releases FY24 Earnings Guidance

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

Kinder Morgan Price Performance

Kinder Morgan stock opened at $18.22 on Friday. Kinder Morgan has a 52 week low of $15.89 and a 52 week high of $18.72. The business’s fifty day moving average is $17.74 and its two-hundred day moving average is $17.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.28 and a current ratio of 0.35. The firm has a market cap of $40.44 billion, a P/E ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Equities research analysts forecast that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The business 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 6.31%. The ex-dividend date is Monday, April 29th. Kinder Morgan’s payout ratio is presently 102.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial reissued a hold rating and set a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com lowered Kinder Morgan from a buy rating to a hold rating in a research report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $20.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its position in shares of Kinder Morgan by 102,208.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after buying an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Kinder Morgan by 1,352.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock worth $665,401,000 after buying an additional 34,269,435 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinder Morgan by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 28,792,278 shares of the pipeline company’s stock worth $544,462,000 after buying an additional 988,042 shares during the period. Morgan Stanley lifted its position in Kinder Morgan by 8.9% during the fourth quarter. Morgan Stanley now owns 22,573,449 shares of the pipeline company’s stock worth $408,128,000 after acquiring an additional 1,846,231 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Kinder Morgan by 20.3% during the fourth quarter. Legal & General Group Plc now owns 21,748,574 shares of the pipeline company’s stock worth $383,644,000 after acquiring an additional 3,662,856 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.