Fintel reports that on July 12, 2023, Wolfe Research upgraded their outlook for Kinder Morgan Inc - Class P (NYSE:KMI) from Underperform to Peer Perform .
Analyst Price Forecast Suggests 20.20% Upside
As of July 6, 2023, the average one-year price target for Kinder Morgan Inc - Class P is 20.73. The forecasts range from a low of 18.18 to a high of $24.15. The average price target represents an increase of 20.20% from its latest reported closing price of 17.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kinder Morgan Inc - Class P is 19,706MM, an increase of 4.85%. The projected annual non-GAAP EPS is 1.13.
Kinder Morgan Inc - Class P Declares $0.28 Dividend
On April 19, 2023 the company declared a regular quarterly dividend of $0.28 per share ($1.13 annualized). Shareholders of record as of May 1, 2023 received the payment on May 15, 2023. Previously, the company paid $0.28 per share.
At the current share price of $17.25 / share, the stock's dividend yield is 6.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.97%, the lowest has been 3.97%, and the highest has been 9.07%. The standard deviation of yields is 1.09 (n=235).
The current dividend yield is 0.53 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.99. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2107 funds or institutions reporting positions in Kinder Morgan Inc - Class P. This is a decrease of 34 owner(s) or 1.59% in the last quarter. Average portfolio weight of all funds dedicated to KMI is 0.45%, an increase of 2.55%. Total shares owned by institutions decreased in the last three months by 1.32% to 1,506,559K shares. 
The put/call ratio of KMI is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Bank Of America holds 62,349K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 59,304K shares, representing an increase of 4.88%. The firm decreased its portfolio allocation in KMI by 8.18% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 59,187K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 58,089K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in KMI by 8.88% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 56,853K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 57,256K shares, representing a decrease of 0.71%. The firm increased its portfolio allocation in KMI by 3.41% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 46,161K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 45,726K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in KMI by 9.33% over the last quarter.
Geode Capital Management holds 37,255K shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 39,578K shares, representing a decrease of 6.24%. The firm decreased its portfolio allocation in KMI by 15.93% over the last quarter.
Kinder Morgan Background Information
(This description is provided by the company.)
Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 147 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel chemicals, ethanol, metals and petroleum coke.
Additional reading:
- CERTIFICATE OF AMENDMENT OF CERTIFICATE OF INCORPORATION OF KINDER MORGAN, INC. May 10, 2023
- Cross Guarantee Agreement, dated as of November 26, 2014, among Kinder Morgan, Inc. and certain of its subsidiaries, with schedules updated as of March 31, 2023.
- Certificate of the Vice President and Treasurer and Vice President and Chief Financial Officer of Kinder Morgan, Inc. establishing the terms of the 5.200% Notes due 2033.
- Subsidiary guarantors and issuers of guaranteed securities.
- KINDER MORGAN REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS Increases Dividend For Sixth Consecutive Year
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
