Kinder Morgan, Inc. (NYSE:KMI) Declares Quarterly Dividend of $0.29

Kinder Morgan, Inc. (NYSE:KMI) announced 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 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28.

Kinder Morgan has raised its dividend payment by an average of 2.7% per year over the last three years and has raised 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 fall. 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 Price Performance

Shares of KMI traded up $0.46 during trading hours on Thursday, hitting $18.22. 26,118,810 shares of the company were exchanged, compared to its average volume of 14,130,286. The company has a market capitalization of $40.44 billion, a PE 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 current ratio of 0.35 and a quick ratio of 0.28. The firm has a fifty day simple moving average of $17.71 and a 200-day simple moving average of $17.36. Kinder Morgan has a one year low of $15.89 and a one year high of $18.72.

Kinder Morgan (NYSE:KMI) last released its earnings results 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 analyst estimates 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 for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, sell-side analysts predict that Kinder Morgan will post 1.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KMI shares. StockNews.com cut Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kinder Morgan presently has an average rating of “Hold” and a consensus target price of $20.20.

Institutional Trading of Kinder Morgan

A number of institutional investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new stake in Kinder Morgan during the fourth quarter valued at $323,000. SageView Advisory Group LLC boosted its position in Kinder Morgan by 13.8% during the fourth quarter. SageView Advisory Group LLC now owns 23,460 shares of the pipeline company’s stock valued at $404,000 after purchasing an additional 2,853 shares during the last quarter. Oarsman Capital Inc. acquired a new stake in Kinder Morgan during the fourth quarter valued at $177,000. Harbour Investments Inc. boosted its position in Kinder Morgan by 10.1% during the fourth quarter. Harbour Investments Inc. now owns 24,084 shares of the pipeline company’s stock valued at $425,000 after purchasing an additional 2,217 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Kinder Morgan by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 989,726 shares of the pipeline company’s stock valued at $17,459,000 after purchasing an additional 3,683 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Company Profile

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.