Kinder Morgan, Inc. (KMI) Declares Quarterly Dividend of $0.13
Kinder Morgan, Inc. (NYSE:KMI) announced a quarterly dividend on Wednesday, October 18th, RTT News reports. Investors of record on Tuesday, October 31st will be paid a dividend of 0.125 per share by the pipeline company on Wednesday, November 15th. This represents a $0.50 dividend on an annualized basis and a yield of 2.69%.
Kinder Morgan has decreased its dividend payment by an average of 31.6% per year over the last three years. Kinder Morgan has a dividend payout ratio of 78.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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%.
Shares of Kinder Morgan (NYSE:KMI) traded down 0.54% during midday trading on Wednesday, reaching $18.58. 18,357,310 shares of the company were exchanged. The company has a market capitalization of $41.49 billion, a PE ratio of 61.32 and a beta of 0.65. Kinder Morgan has a 52-week low of $18.23 and a 52-week high of $23.01. The stock’s 50-day moving average price is $19.22 and its 200-day moving average price is $19.66.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Kinder Morgan will post $0.64 EPS for the current year.
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A number of research analysts have recently issued reports on KMI shares. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Goldman Sachs Group, Inc. (The) downgraded shares of Kinder Morgan from a “buy” rating to a “neutral” rating and raised their price target for the stock from $18.81 to $22.00 in a research report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kinder Morgan in a research report on Monday, July 3rd. BMO Capital Markets set a $26.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kinder Morgan has a consensus rating of “Buy” and a consensus target price of $23.56.
In related news, Director William A. Smith bought 4,903 shares of the stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $20.24 per share, with a total value of $99,236.72. Following the purchase, the director now owns 14,587 shares in the company, valued at $295,240.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.99% of the stock is currently owned by company insiders.
Kinder Morgan declared that its board has initiated a share buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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