Kinder Morgan, Inc. (KMI) to Issue Quarterly Dividend of $0.29 on May 15th

Kinder Morgan, Inc. (NYSE:KMI) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be paid 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 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 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 %

NYSE:KMI opened at $18.22 on Friday. The company’s 50 day moving average is $17.74 and its 200-day moving average is $17.37. 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 has a 12 month low of $15.89 and a 12 month high of $18.72. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts anticipate that Kinder Morgan will post 1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.20.

Hedge Funds Weigh In On Kinder Morgan

Large investors have recently modified their holdings of the stock. First Capital Advisors Group LLC. acquired a new position in Kinder Morgan during the 2nd quarter worth $29,000. LM Advisors LLC bought a new stake in shares of Kinder Morgan during the fourth quarter worth $41,000. Certified Advisory Corp bought a new position in Kinder Morgan in the first quarter valued at about $49,000. Garner Asset Management Corp bought a new position in Kinder Morgan in the fourth quarter valued at about $44,000. Finally, Clearstead Advisors LLC increased its position in Kinder Morgan by 67.6% in the third quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,389 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.