KMI surpasses 50-day moving average
Kinder Morgan (KMI) stock surpassed its 50-day moving average on April 18. The stock is currently trading 3% above its 50-day moving average and 8% below its 200-day moving average. Kinder Morgan’s 200-day moving average may act as resistance for the stock in the near term.
Kinder Morgan’s 50-day moving average fell below its 200-day average—a bearish indicator—in April 2017. As the above graph shows, KMI’s 50-day average has been below its 200-day average since then. Kinder Morgan stock is down 19% in a year and 9% year-to-date.
According to data released on April 10, 2018, short interest in Kinder Morgan as a percentage of its float is currently 2.8%. The current short interest is lower than its short interest of 3.3% in mid-March 2018. The total number of Kinder Morgan shares shorted was 53.2 million on March 29, which is 15.2% lower than the 62.8 million shares shorted on March 15.
Kinder Morgan announced a dividend per share of $0.20 for 1Q18, 60% higher than the previous quarter’s dividend. Based on the 1Q18 dividend, KMI is currently trading at a yield of ~4.9%.
Learn more about Magellan Midstream Partners’ growth drivers in Magellan Midstream Partners’ Growth Drivers in 2018 and Beyond.
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