Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend on Wednesday, July 19th, RTT News reports. Stockholders of record on Monday, July 31st will be paid a dividend of 0.125 per share by the pipeline company on Tuesday, August 15th. This represents a $0.50 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, July 27th.
Kinder Morgan has decreased its dividend by an average of 31.6% annually over the last three years. Kinder Morgan has a dividend payout ratio of 76.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Kinder Morgan to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 69.4%.
Shares of Kinder Morgan (NYSE:KMI) traded down 0.34% on Friday, hitting $20.40. 7,682,447 shares of the stock traded hands. The stock has a market cap of $45.56 billion, a price-to-earnings ratio of 65.81 and a beta of 0.63. Kinder Morgan has a 12-month low of $18.31 and a 12-month high of $23.36. The stock has a 50-day moving average price of $19.38 and a 200 day moving average price of $20.68.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. Kinder Morgan had a return on equity of 4.41% and a net margin of 6.20%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Kinder Morgan will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several analysts recently weighed in on KMI shares. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. TD Securities set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, May 31st. Vetr downgraded Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective for the company. in a research report on Monday, April 24th. Finally, Credit Suisse Group set a $27.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.91.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the purchase, the insider now directly owns 234,712,353 shares of the company’s stock, valued at approximately $4,360,955,518.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dax Sanders bought 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average cost of $18.60 per share, with a total value of $48,360.00. The disclosure for this purchase can be found here. Company insiders own 13.99% of the company’s stock.
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About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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