Kinder Morgan (NYSE:KMI) Announces Earnings Results, Hits Expectations

Kinder Morgan (NYSE:KMI - Get Free Report) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.34 earnings per share for the quarter, meeting analysts' consensus estimates of $0.34, Yahoo Finance reports. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 15.59% and a return on equity of 7.57%. Kinder Morgan's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Kinder Morgan updated its FY24 guidance to $1.22 EPS and its FY 2024 guidance to 1.220-1.220 EPS.

Kinder Morgan Stock Performance

Kinder Morgan stock traded up $0.07 during mid-day trading on Wednesday, hitting $17.76. 12,949,792 shares of the company's stock traded hands, compared to its average volume of 13,968,672. The firm has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $17.36. Kinder Morgan has a fifty-two week low of $15.89 and a fifty-two week high of $18.72. The stock has a market cap of $39.42 billion, a price-to-earnings ratio of 16.60, 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KMI. Truist Financial reiterated a "hold" rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com cut Kinder Morgan from a "buy" rating to a "hold" rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of "Hold" and an average price target of $20.20.

Institutional Investors Weigh In On Kinder Morgan

Hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its holdings in shares of Kinder Morgan by 102,208.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company's stock worth $742,555,000 after buying an additional 41,030,376 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Kinder Morgan by 1,352.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company's stock valued at $665,401,000 after purchasing an additional 34,269,435 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kinder Morgan by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 28,792,278 shares of the pipeline company's stock valued at $544,462,000 after purchasing an additional 988,042 shares in the last quarter. Morgan Stanley raised its stake in Kinder Morgan by 8.9% in the fourth quarter. Morgan Stanley now owns 22,573,449 shares of the pipeline company's stock valued at $408,128,000 after purchasing an additional 1,846,231 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Kinder Morgan by 20.3% in the fourth quarter. Legal & General Group Plc now owns 21,748,574 shares of the pipeline company's stock valued at $383,644,000 after purchasing an additional 3,662,856 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

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.