Kinder Morgan, Inc. (NYSE:KMI) Increases Dividend to $0.29 Per Share

Kinder Morgan, Inc. (NYSE:KMI) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.2875 per share by the pipeline company on Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28.

Kinder Morgan has raised its dividend by an average of 2.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Kinder Morgan has a payout ratio of 89.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Kinder Morgan to earn $1.22 per share next year, which means the company should continue to be able to cover its $1.13 annual dividend with an expected future payout ratio of 92.6%.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock traded up $0.45 during trading hours on Thursday, reaching $18.21. 25,574,650 shares of the stock traded hands, compared to its average volume of 14,123,590. The company has a 50 day moving average price of $17.71 and a 200 day moving average price of $17.36. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 4.95 and a beta of 0.90. Kinder Morgan has a one year low of $15.89 and a one year high of $18.72. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.88.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. On average, equities research analysts expect that Kinder Morgan will post 1.19 earnings per share for the current fiscal year.

Institutional Trading of Kinder Morgan

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Capital Advisors Group LLC. purchased a new stake in Kinder Morgan during the 2nd quarter valued at $29,000. LM Advisors LLC bought a new position in Kinder Morgan in the 4th quarter valued at $41,000. Garner Asset Management Corp bought a new position in Kinder Morgan in the 4th quarter valued at $44,000. Certified Advisory Corp bought a new position in Kinder Morgan in the 1st quarter valued at $49,000. Finally, Clearstead Advisors LLC grew its position in Kinder Morgan by 67.6% in the 3rd quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,389 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KMI. Truist Financial reaffirmed a “hold” rating and set a $20.00 price objective (down 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.