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

Kinder Morgan, Inc. (NYSE:KMI) announced a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Wednesday, July 31st will be given a dividend of 0.2875 per share by the pipeline company on Thursday, August 15th. This represents a $1.15 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend is Wednesday, July 31st.

Kinder Morgan has increased its dividend payment by an average of 2.7% per year over the last three years. Kinder Morgan has a payout ratio of 92.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Kinder Morgan to earn $1.23 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 93.5%.

Kinder Morgan Stock Down 0.4 %

Kinder Morgan stock opened at $21.29 on Tuesday. Kinder Morgan has a 1-year low of $15.89 and a 1-year high of $21.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The stock has a market cap of $47.25 billion, a PE ratio of 19.35, a P/E/G ratio of 2.90 and a beta of 0.93. The stock’s fifty day moving average is $19.99 and its two-hundred day moving average is $18.64.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Kinder Morgan will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at Kinder Morgan

In other news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now directly owns 259,069 shares in the company, valued at approximately $5,116,612.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KMI has been the topic of several research analyst reports. Barclays boosted their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Truist Financial lifted their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, June 4th. Finally, Scotiabank lifted their price objective on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

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.