Kinder Morgan (NYSE:KMI) Issues Earnings Results

Kinder Morgan (NYSE:KMI) issued its earnings results on Wednesday. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. 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 Kinder Morgan stock opened at $17.76 on Thursday. The business’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $17.36. Kinder Morgan has a 52-week low of $15.89 and a 52-week high of $18.72. The firm has a market cap of $39.42 billion, a PE ratio of 16.60, a P/E/G ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.28 and a current ratio of 0.35.

Institutional Investors Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new stake in Kinder Morgan in the 4th quarter valued at approximately $323,000. SageView Advisory Group LLC grew its stake in Kinder Morgan by 13.8% in the fourth quarter. SageView Advisory Group LLC now owns 23,460 shares of the pipeline company’s stock valued at $404,000 after purchasing an additional 2,853 shares in the last quarter. Oarsman Capital Inc. bought a new position in Kinder Morgan in the fourth quarter valued at approximately $177,000. Harbour Investments Inc. grew 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 grew its stake in 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 valued at $17,459,000 after purchasing an additional 3,683 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

KMI has been the topic of a number of research analyst reports. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and set a $20.00 price target (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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.