Kinder Morgan (NYSE:KMI) Sets New 12-Month High Following Dividend Announcement

Shares of Kinder Morgan, Inc. (NYSE:KMI) hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $31.48 and last traded at $31.20, with a volume of 22775908 shares trading hands. The stock had previously closed at $30.31.

The newly announced dividend which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.77%. Kinder Morgan’s payout ratio is 100.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial raised their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday. Bank of America started coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Finally, Mizuho upped their target price on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus target price of $28.92.

Kinder Morgan Price Performance

The firm’s fifty day moving average price is $27.90 and its 200 day moving average price is $24.32. The firm has a market capitalization of $67.77 billion, a PE ratio of 26.76, a P/E/G ratio of 4.18 and a beta of 0.94. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Insider Activity

In other news, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy W. Chronis purchased 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $24.89 per share, with a total value of $55,778.49. Following the transaction, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 55,121 shares of company stock worth $1,497,000 over the last three months. 12.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinder Morgan

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Retirement Wealth Solutions LLC acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in Kinder Morgan during the fourth quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in Kinder Morgan in the 3rd quarter valued at $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Kinder Morgan in the 4th quarter worth $29,000. Finally, HWG Holdings LP acquired a new position in shares of Kinder Morgan during the 2nd quarter valued at about $30,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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.