Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend on Wednesday, July 19th, RTT News reports. Shareholders of record on Monday, July 31st will be given a dividend of 0.125 per share by the pipeline company on Tuesday, August 15th. This represents a $0.50 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, July 27th.
Kinder Morgan has decreased its dividend payment by an average of 31.6% per year over the last three years. Kinder Morgan has a 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 $0.71 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 70.4%.
Kinder Morgan (NYSE:KMI) traded down 0.21% during trading on Monday, reaching $19.03. 8,107,125 shares of the company’s stock traded hands. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 62.81 and a beta of 0.64. The company has a 50 day moving average of $19.69 and a 200 day moving average of $20.47. Kinder Morgan has a one year low of $18.31 and a one year high of $23.36. Kinder Morgan also was the target of some unusual options trading on Friday. Traders bought 465 call options on the stock. This is an increase of 122% compared to the average daily volume of 209 call options.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.12 billion. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities research analysts predict that Kinder Morgan will post $0.64 EPS for the current year.
Kinder Morgan declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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In other news, Director William A. Smith acquired 4,903 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $20.24 per share, for a total transaction of $99,236.72. Following the completion of the purchase, the director now directly owns 14,587 shares of the company’s stock, valued at approximately $295,240.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard D. Kinder acquired 500,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the purchase, the insider now directly owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 507,503 shares of company stock worth $9,437,597. Insiders own 13.99% of the company’s stock.
Several equities analysts recently issued reports on KMI shares. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a 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 report on Tuesday, June 20th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Wednesday, May 31st. Vetr cut Kinder Morgan from a “strong-buy” rating to a “buy” rating and set a $22.49 price objective for the company. in a 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 report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $23.91.
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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