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

Kinder Morgan, Inc. (NYSE:KMI) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders 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 yield of 6.16%. 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 raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Kinder Morgan has a dividend payout ratio of 91.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Kinder Morgan to earn $1.22 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 94.3%.

Kinder Morgan Price Performance

KMI stock opened at $18.68 on Friday. The stock has a 50-day moving average price of $17.98 and a two-hundred day moving average price of $17.47. Kinder Morgan has a 12-month low of $15.89 and a 12-month high of $18.92. The company has a current ratio of 0.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95. The company has a market cap of $41.46 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 5.31 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last posted its quarterly 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. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts predict that Kinder Morgan will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KMI shares. Truist Financial restated a “hold” rating and set a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com cut Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.20.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.64% of the stock is currently owned by insiders.

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.