Kinder Morgan (NYSE:KMI) Reaches New 1-Year High at $18.93

Kinder Morgan, Inc. (NYSE:KMI)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.93 and last traded at $18.90, with a volume of 429583 shares traded. The stock had previously closed at $18.81.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial reaffirmed 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 downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.20.

Kinder Morgan Stock Up 0.6 %

The stock’s fifty day moving average price is $18.16 and its 200 day moving average price is $17.55. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. The stock has a market cap of $41.99 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 5.23 and a beta of 0.89.

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, meeting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.08%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Insider Transactions at Kinder Morgan

In other news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the sale, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Kinder Morgan in the 4th quarter worth approximately $409,063,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Kinder Morgan in the third quarter worth $99,908,000. Invesco Ltd. raised its position in shares of Kinder Morgan by 29.4% in the 3rd quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock worth $355,451,000 after purchasing an additional 4,870,444 shares during the last quarter. Confluence Investment Management LLC bought a new position in Kinder Morgan in the 1st quarter worth about $87,627,000. Finally, Bank of Nova Scotia grew its position in Kinder Morgan by 2,463.8% during the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock valued at $73,678,000 after purchasing an additional 4,270,461 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.

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.