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

Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Stockholders 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 dividend 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 increased its dividend payment 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 payout ratio of 91.3% 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 $1.22 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 Trading Down 0.6 %

Shares of NYSE:KMI opened at $18.68 on Friday. Kinder Morgan has a 52-week low of $15.89 and a 52-week high of $18.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.50. The company has a market capitalization of $41.46 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 5.28 and a beta of 0.90. The company has a 50-day simple moving average of $17.98 and a 200 day simple moving average of $17.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Kinder Morgan will post 1.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the transaction, the director now owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.