Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend on Wednesday, October 18th, RTT News reports. Shareholders of record on Tuesday, October 31st will be given a dividend of 0.125 per share by the pipeline company on Wednesday, November 15th. This represents a $0.50 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, October 30th.
Kinder Morgan has decreased its dividend payment by an average of 31.6% per year over the last three years. Kinder Morgan has a payout ratio of 78.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Kinder Morgan to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 71.4%.
Kinder Morgan (NYSE:KMI) traded up 0.17% during midday trading on Friday, hitting $18.03. The stock had a trading volume of 17,199,936 shares. Kinder Morgan has a 52 week low of $17.82 and a 52 week high of $23.01. The company’s 50 day moving average price is $19.05 and its 200-day moving average price is $19.49. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 59.50 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.37%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS. Equities analysts anticipate that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Zacks Investment Research downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Mizuho reaffirmed a “hold” rating and issued a $22.00 target price on shares of Kinder Morgan in a report on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Kinder Morgan from a “buy” rating to a “neutral” rating and upped their target price for the stock from $18.81 to $22.00 in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.03.
In other Kinder Morgan news, Director William A. Smith acquired 4,903 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.99% of the stock is currently owned by company insiders.
Kinder Morgan announced that its Board of Directors has initiated a share repurchase plan on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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