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

Kinder Morgan (NYSE:KMI) posted its earnings results on Wednesday. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34, Yahoo Finance reports. 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 during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $0.30 EPS. The company’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 Stock Performance

NYSE KMI traded up $0.07 during trading on Wednesday, hitting $17.76. The company’s stock had a trading volume of 12,964,722 shares, compared to its average volume of 13,967,188. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average price of $17.68 and a 200 day moving average price of $17.36. The firm has a market cap 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. Kinder Morgan has a 52 week low of $15.89 and a 52 week high of $18.72.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its position 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 valued at $742,555,000 after purchasing an additional 41,030,376 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Kinder Morgan by 1,352.5% during 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 during the period. Norges Bank bought a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $256,613,000. Goldman Sachs Group Inc. increased its position in shares of Kinder Morgan by 33.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,531,219 shares of the pipeline company’s stock valued at $273,971,000 after purchasing an additional 3,894,930 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Kinder Morgan during the first quarter valued at approximately $69,969,000. 62.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KMI shares. Truist Financial restated a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently 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.