Kinder Morgan (NYSE:KMI) Updates FY 2024 Earnings Guidance

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

Kinder Morgan Price Performance

Shares of Kinder Morgan stock opened at $18.22 on Friday. The company has a market capitalization 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 quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88. The stock’s 50-day simple moving average is $17.74 and its 200-day simple moving average is $17.37. Kinder Morgan has a 52 week low of $15.89 and a 52 week high of $18.72.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, analysts expect 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. The ex-dividend date is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.31%. Kinder Morgan’s dividend payout ratio (DPR) is 102.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KMI. Truist Financial reaffirmed a hold rating and issued a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com lowered 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $20.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Capital Advisors Group LLC. acquired a new stake in Kinder Morgan in the second quarter worth about $29,000. LM Advisors LLC purchased a new position in Kinder Morgan during the 4th quarter worth approximately $41,000. Garner Asset Management Corp acquired a new stake in Kinder Morgan during the 4th quarter valued at approximately $44,000. Certified Advisory Corp purchased a new stake in shares of Kinder Morgan in the 1st quarter valued at $49,000. Finally, Clearstead Advisors LLC increased its stake in shares of Kinder Morgan by 67.6% in the third quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

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.