Kinder Morgan, Inc. (KMI) To Go Ex-Dividend on April 29th

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 boost from Kinder Morgan’s previous quarterly dividend of $0.28.

Kinder Morgan has raised its dividend payment 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 dividend 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 fall. 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 Price Performance

Kinder Morgan stock opened at $18.68 on Friday. 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 business’s 50 day simple moving average is $17.98 and its 200 day simple moving average is $17.47. The company has a market cap of $41.46 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 5.31 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that Kinder Morgan will post 1.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on KMI shares. Truist Financial reissued a “hold” rating and issued a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. StockNews.com lowered 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.20.

Insider Buying and Selling at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the transaction, the director now directly 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 is available at the SEC website. Insiders own 12.64% of the company’s stock.

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.