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

Kinder Morgan (NYSE:KMI) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Kinder Morgan Stock Performance

Shares of KMI traded up $0.07 during mid-day trading on Wednesday, reaching $17.76. 12,949,792 shares of the company’s stock traded hands, compared to its average volume of 13,968,672. The business’s 50-day moving average price is $17.68 and its 200-day moving average price is $17.36. The stock has a market capitalization of $39.42 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 5.03 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. Kinder Morgan has a 12 month low of $15.89 and a 12 month high of $18.72.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KMI shares. StockNews.com cut Kinder Morgan from a buy rating to a hold rating in a report on Friday, March 1st. Truist Financial reissued a hold rating and set a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kinder Morgan presently has a consensus rating of Hold and a consensus price target of $20.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KMI. First Capital Advisors Group LLC. purchased a new position in Kinder Morgan during the 2nd quarter worth approximately $29,000. LM Advisors LLC purchased a new position in Kinder Morgan during the 4th quarter worth approximately $41,000. Garner Asset Management Corp purchased a new position in Kinder Morgan during the 4th quarter worth approximately $44,000. Certified Advisory Corp purchased a new position in Kinder Morgan during the 1st quarter worth approximately $49,000. Finally, Clearstead Advisors LLC grew its position in Kinder Morgan by 67.6% during the 3rd quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,389 shares in the last quarter. Institutional investors and hedge funds 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.