|Kinder Morgan sees 10% growth in distributable cash flow next year to $5B|
Dec. 3, 2018 5:15 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor
Kinder Morgan (NYSE: KMI) announces preliminary 2019 financial projections, including expectations of ~10% growth in distributable cash flow to $5B, supported by a ~$6.5B backlog.
KMI says it expects to generate $2.20/share in DCF and $7.8B of adjusted EBITDA, up a respective 7% and 4% vs. its 2018 budget, despite the sale of the Trans Mountain asset during 2018.
KMI also plans to invest $3.1B in expansion projects and contributions to joint ventures in 2019, and expects to use internally generated cash flow to fully fund its 2019 dividend payment as well as the vast majority of its 2019 discretionary spending, with no need to access equity markets.
The company also envisions ending 2019 with a 4.5x net debt-to-adjusted EBITDA ratio