In this article, we discuss 5 large-cap dividend stocks with over 5% yield. If you want to read our detailed discussion on large-cap dividend investing, go directly to read 10 Large-Cap Dividend Stocks with Over 5% Yield.
5. Kinder Morgan, Inc. (NYSE:KMI)
Dividend Yield as of August 18: 5.90%
Kinder Morgan, Inc. (NYSE:KMI) is a Texas-based energy infrastructure company that owns and controls oil pipelines and terminals. The stock’s price target was raised by Barclays in August to $21 due to the company’s improving fundamentals. The firm kept an Equal Weight rating on the shares.
In its Q2 2022 earnings, Kinder Morgan, Inc. (NYSE:KMI) reported revenue of $5.15 billion, presenting a 63.5% year-over-year growth. The company’s balance sheet remained strong during the quarter, with free cash flow generation of $1.2 billion, up from $677 million in the previous quarter. Moreover, its distributable cash flow stood at over $1.1 billion, growing from $1 billion in the same period last year.
On July 20, Kinder Morgan, Inc. (NYSE:KMI) declared a quarterly dividend of $0.2775 per share, consistent with its previous quarter. The company holds a 5-year streak of consistent dividend growth. Its dividend yield came in at 5.90%, as recorded on August 18.
As of the end of June 2022, 41 hedge funds owned stakes in Kinder Morgan, Inc. (NYSE:KMI), up from 40 in the previous quarter, as shown by Insider Monkey’s database. The stakes owned by these funds hold a value of over $1.2 billion. Orbis Investment Management held the largest stake in the company in Q2, worth $363.2 million.