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

Kinder Morgan, Inc. (NYSE:KMI - Get Free Report) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 6.31%. The ex-dividend date is Monday, April 29th. This is an increase from Kinder Morgan's previous quarterly dividend of $0.28.

Kinder Morgan has raised its dividend 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 dividend 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 decline. 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 Price Performance

Shares of KMI traded up $0.46 during mid-day trading on Thursday, hitting $18.22. The company's stock had a trading volume of 26,118,810 shares, compared to its average volume of 14,130,286. The firm has a 50-day moving average price of $17.74 and a 200 day moving average price of $17.37. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 4.95 and a beta of 0.90. 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 fifty-two week low of $15.89 and a fifty-two week high of $18.72.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 15.59% and a return on equity of 7.57%. The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. On average, research analysts predict that Kinder Morgan will post 1.19 EPS for the current fiscal year.

Institutional Trading of Kinder Morgan

Several institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Kinder Morgan by 102,208.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company's stock worth $742,555,000 after purchasing an additional 41,030,376 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kinder Morgan by 1,352.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company's stock worth $665,401,000 after purchasing an additional 34,269,435 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinder Morgan by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 28,792,278 shares of the pipeline company's stock worth $544,462,000 after purchasing an additional 988,042 shares during the period. Morgan Stanley boosted its holdings in shares of Kinder Morgan by 8.9% during the fourth quarter. Morgan Stanley now owns 22,573,449 shares of the pipeline company's stock worth $408,128,000 after purchasing an additional 1,846,231 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Kinder Morgan by 20.3% during the fourth quarter. Legal & General Group Plc now owns 21,748,574 shares of the pipeline company's stock worth $383,644,000 after purchasing an additional 3,662,856 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KMI has been the topic of several recent research reports. StockNews.com cut shares of Kinder Morgan from a "buy" rating to a "hold" rating in a research note on Friday, March 1st. Truist Financial reissued a "hold" rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.