Kinder Morgan (NYSE:KMI) Posts Earnings Results, Hits Estimates

Kinder Morgan (NYSE:KMI) posted 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 net margin of 15.59% and a return on equity of 7.57%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Kinder Morgan updated its FY24 guidance to $1.22 EPS.

Kinder Morgan Trading Up 0.4 %

NYSE:KMI traded up $0.07 on Wednesday, reaching $17.76. The stock had a trading volume of 12,964,722 shares, compared to its average volume of 13,967,188. The company has a market cap 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. 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 firm’s fifty day moving average is $17.68 and its two-hundred day moving average is $17.36. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $18.72.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KMI shares. StockNews.com lowered shares of 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 price objective (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new position in Kinder Morgan in the 4th quarter valued at about $323,000. SageView Advisory Group LLC lifted its holdings in shares of Kinder Morgan by 13.8% during the 4th 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 period. Oarsman Capital Inc. purchased a new position in shares of Kinder Morgan during the 4th quarter worth about $177,000. Harbour Investments Inc. lifted its holdings in shares of Kinder Morgan by 10.1% during the 4th quarter. Harbour Investments Inc. now owns 24,084 shares of the pipeline company’s stock worth $425,000 after acquiring an additional 2,217 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Kinder Morgan by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 989,726 shares of the pipeline company’s stock worth $17,459,000 after acquiring 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.