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

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 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 dividend yield of 6.31%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28.

Kinder Morgan has increased its dividend by an average of 2.7% annually 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. 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 $1.13 annual dividend with an expected future payout ratio of 92.6%.

Kinder Morgan Stock Performance

NYSE:KMI opened at $18.22 on Friday. The company has a market capitalization of $40.44 billion, a P/E ratio of 16.56, a P/E/G ratio of 4.97 and a beta of 0.90. The business has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $17.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.35 and a quick ratio of 0.28. Kinder Morgan has a 1 year low of $15.89 and a 1 year high of $18.72.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. On average, analysts expect that Kinder Morgan will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently bought and sold shares of KMI. First Capital Advisors Group LLC. purchased a new position in Kinder Morgan in the second quarter worth $29,000. LM Advisors LLC bought a new stake in Kinder Morgan in the 4th quarter worth approximately $41,000. Garner Asset Management Corp purchased a new stake in Kinder Morgan in the fourth quarter worth approximately $44,000. Certified Advisory Corp bought a new stake in shares of Kinder Morgan in the 1st quarter worth approximately $49,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Kinder Morgan by 67.6% in the 3rd quarter. Clearstead Advisors LLC now owns 3,443 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reissued a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kinder Morgan presently has an average rating of “Hold” and a consensus price target of $20.20.

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.