Kinder Morgan, Inc. (NYSE:KMI) Announces Dividend Increase – $0.29 Per Share

Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Stockholders 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 6.31%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28.

Kinder Morgan has increased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 6 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 tumble. Equities 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 Trading Up 2.6 %

Shares of NYSE KMI traded up $0.46 during mid-day trading on Thursday, reaching $18.22. 26,118,810 shares of the company’s stock were exchanged, compared to its average volume of 14,130,286. The firm has a market capitalization of $40.44 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.95 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 52-week low of $15.89 and a 52-week high of $18.72. The company’s 50-day moving average is $17.71 and its 200-day moving average is $17.36.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.57% and a net margin of 15.59%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. Analysts expect that Kinder Morgan will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinder Morgan

Hedge funds have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. raised its position in Kinder Morgan by 20.5% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 6,043 shares of the pipeline company’s stock valued at $104,000 after purchasing an additional 1,028 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in Kinder Morgan in the 4th quarter valued at about $103,000. Fairfield Bush & CO. acquired a new stake in Kinder Morgan in the 1st quarter valued at about $93,000. Coppell Advisory Solutions Corp. acquired a new stake in Kinder Morgan in the 4th quarter valued at about $77,000. Finally, Mango Five Family Inc. acquired a new stake in shares of Kinder Morgan during the 4th quarter worth about $71,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

KMI has been the subject of a number of research analyst reports. Truist Financial restated a “hold” rating and set a $20.00 target price (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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kinder Morgan presently has a consensus rating of “Hold” and a consensus price target 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.