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 guidance of 1.220-1.220 for the period, compared to the consensus earnings per share estimate of 1.220. The company issued revenue guidance of -. Kinder Morgan also updated its FY24 guidance to $1.22 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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 report on Monday, March 25th. StockNews.com cut Kinder Morgan from a buy rating to a hold rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $20.20.

Kinder Morgan Price Performance

NYSE KMI traded up $0.07 during trading hours on Wednesday, reaching $17.76. The company’s stock had a trading volume of 12,949,792 shares, compared to its average volume of 13,968,672. The firm has a market capitalization of $39.42 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 5.03 and a beta of 0.90. Kinder Morgan has a 1-year low of $15.89 and a 1-year high of $18.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.35 and a quick ratio of 0.28. The company’s 50-day moving average is $17.68 and its two-hundred day moving average is $17.36.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. 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 during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Kinder Morgan will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Kinder Morgan

A number of large investors have recently made changes to their positions in the stock. Hobbs Group Advisors LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $323,000. SageView Advisory Group LLC increased its stake in Kinder Morgan by 13.8% during 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 during the last quarter. Oarsman Capital Inc. purchased a new stake in Kinder Morgan in the fourth quarter valued at $177,000. Harbour Investments Inc. raised its position 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 during the period. Finally, Public Employees Retirement System of Ohio raised its position 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 during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

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.