5 High Dividend Stocks to Shore Up Your Cash Position Before Recession Begins

3. Kinder Morgan, Inc. (NYSE:KMI)

Dividend Yield as of August 4: 6.23%

Kinder Morgan, Inc. (NYSE:KMI) is a Texas-based energy infrastructure company that owns oil and gas pipelines and terminals.

Kinder Morgan, Inc. (NYSE:KMI) reported over $1.5 billion in operating cash flow in Q2 2022, up from $1.08 billion in the previous quarter. The company’s free cash flow jumped to $1.2 billion, from $677 million in Q1. Its dividend payments amounted to $631 million, which are well-covered within its FCF. Kinder Morgan, Inc. (NYSE:KMI) pays a quarterly dividend of $0.2775 per share, with a dividend yield of 6.23%, recorded on August 4. The company maintains a 5-year track record of dividend growth and raised its annual dividends by 113.4% since 2018.

In July, Barclays set a $20 price target on Kinder Morgan, Inc. (NYSE:KMI) with an Equal Weight rating on the shares, expecting the company to perform better in the energy subsector.

At the end of Q1 2022, 40 hedge funds were bullish on Kinder Morgan, Inc. (NYSE:KMI), up from 39 in the previous quarter, according to Insider Monkey’s data. These hedge funds owned stakes with a total value of over $1.3 billion. FPR Partners was the company’s biggest stakeholder in Q1, with stakes worth over $307 million.