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Technology Stocks : KMI- a fallen high dividend yielder - for how long?
KMI 19.86+0.6%2:06 PM EDT

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From: E_K_S12/5/2019 10:28:04 AM
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Kinder Morgan sees lower core earnings but higher DCF in 2020
Dec. 5, 2019 10:22 AM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor

Kinder Morgan ( KMI +0.7%) says it expects adjusted EBITDA to decline next year to $7.6B, in-line with Wall Street estimates but below its 2019 forecast of $7.8B, but signals it would increase its dividend.

KMI says it expects to generate $5.1B of distributable cash flow in 2020, or $2.24/share, ~3% higher than its current DCF forecast for 2019.

The company reiterates plans to raise its dividend to $1.25/share annualized next year, up 25% from 2019, which it expects to fully fund through internally generated cash flow.

KMI expects to invest $2.4B in expansion projects and contributions to joint ventures in 2020, down from $3.1B in 2019.

Also, the company expects its year-end 2019 net debt-to-adjusted EBITDA ratio to improve to 4.4x and to further drop to 4.3x in 2020, with plans to use the proceeds from asset sales to Pembina to pay down debt.

KMI says the moves will provide $1.2B in financial flexibility to buy back shares or invest in attractive projects.


Was looking at buying back shares I sold 10/16/2019 @ $20.05/share at/below $19/share. SMA(200) is @ $18.84/share. Will try to do my add at that price.

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