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

Kinder Morgan (NYSE:KMI) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s 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 Up 0.4 %

Shares of KMI opened at $17.76 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.28 and a current ratio of 0.35. Kinder Morgan has a one year low of $15.89 and a one year high of $18.72. The stock has a market capitalization of $39.42 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 4.95 and a beta of 0.90. The stock has a 50 day moving average price of $17.71 and a 200 day moving average price of $17.36.

Institutional Trading of Kinder Morgan

Several large investors have recently added to or reduced their stakes in KMI. Moneta Group Investment Advisors LLC grew its holdings in Kinder Morgan by 102,208.0% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Kinder Morgan by 1,352.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock valued at $665,401,000 after buying an additional 34,269,435 shares in the last quarter. Norges Bank purchased a new stake in Kinder Morgan in the 4th quarter valued at $256,613,000. Goldman Sachs Group Inc. grew its holdings in shares of Kinder Morgan by 33.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,531,219 shares of the pipeline company’s stock worth $273,971,000 after purchasing an additional 3,894,930 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Kinder Morgan during the 1st quarter worth $69,969,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on KMI shares. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.20.

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.