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   Technology StocksKMI- a fallen high dividend yielder - for how long?

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To: robert b furman who wrote (110)10/6/2020 11:49:57 AM
From: E_K_S
   of 160
Winter coming so demand for NG increases . .

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To: E_K_S who wrote (111)10/6/2020 1:26:55 PM
From: robert b furman
   of 160
Hi E_K_S,

Saw a report that indicates oil demand increses starting from September as well.

I suspect fuel oil is the difference.

Jet fuel will slowly recover and gas /diesel are doing well now vs 2019.

My account perks up with crude over 40.00.


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From: E_K_S10/22/2020 2:26:33 PM
   of 160
Kinder Morgan EPS beats by $0.01, beats on revenue
Oct. 21, 2020 4:06 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Vandana Singh, SA News Editor

Kinder Morgan (NYSE: KMI): Q3 Non-GAAP EPS of $0.21 beats by $0.01; GAAP EPS of $0.20 misses by $0.01.

Revenue of $2.92B (-9.0% Y/Y) beats by $10M.

Adjusted EBITDA decreased 7% Y/Y to $1.7B and distributable cash flow is down 5% to $1.1B.

Press Release


Kinder Morgan swings to Q3 profit but sees full-year DCF below plan
Oct. 21, 2020 5:45 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor

Kinder Morgan (NYSE: KMI) -1.2% after-hours as adjusted Q3 earnings edged estimates while revenues fell 9% Y/Y to $2.92B, as weaker natural gas prices due to the pandemic hurt production and transportation of fuel.

Kinder reports a $455M profit in Q3, 10% less than $506M in the year-ago quarter, but the results mark a turnaround from the $637M loss in Q2, when the company wrote down $1B in assets.

Q3 distributable cash flow fell 5% Y/Y to $1.08B, and for the full year, Kinder reiterates it expects DCF to be below the planned $5.1B by slightly more than 10% and adjusted EBITDA to come in below the $7.6B original plan by slightly more than 8%.

The company now expects its planned $2.4B of expansion projects and contributions to joint ventures for 2020 will come in $680M lower, or 30%; with the reduction, DCF less expansion capital expenditures is improved by ~$135M compared to the original budget.

Kinder says its $2B Permian Highway pipeline project is 97% completed and on schedule to begin service in early 2021.

Shareholders will receive a distribution of $0.2625/share for Q3, in-line with the previous payout.


Lower CapX as you expected

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From: E_K_S10/22/2020 2:27:44 PM
   of 160
Kinder Morgan declares $0.2625 dividend
Oct. 21, 2020 4:09 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Vandana Singh, SA News Editor

Kinder Morgan (NYSE: KMI) declares $0.2625/share quarterly dividend, in line with previous.

Forward yield 8.37%

Payable Nov. 16; for shareholders of record Nov. 2; ex-div Oct. 30.

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To: E_K_S who wrote (114)10/22/2020 3:13:24 PM
From: robert b furman
3 Recommendations   of 160

I guess we need real time posting. LOL

Looks like their guidance on short falls is quite accurate.

The future demand for natural gas appears to be picking up. Price is trading above $3.00.

Here's a quick lesson on renewables:

Energy has a long runway into the future, and will make us a lot of money besides the dividend!


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From: E_K_S11/23/2020 1:55:15 PM
   of 160
Maybe KMI will come up w/ similar resolution

CHK resolution
Williams announces global resolution with Chesapeake ($20.34, 0.00)
Monday, November 23, 2020 12:20:15 PM (GMT)

  • Williams announced that it has reached a global resolution with Chesapeake as part of Chesapeake's Chapter 11 bankruptcy restructuring process.
  • Key highlights of the global resolution, currently pending bankruptcy court approval, include the following:
  • Chesapeake will pay all pre-petition and past due receivables related to midstream expenses, per the existing contracts.
  • Chesapeake will not attempt to reject Williams' gathering agreements in the Eagle Ford, Marcellus, or Mid-Con.
  • In the Haynesville, Williams has agreed to reduce its gathering fees in exchange for gaining ownership of a portion of Chesapeake's South Mansfield producing assets, which consist of approximately 50,000 net mineral acres. In addition, Chesapeake will enter into a long-term gas supply commitment of a minimum 100 Mdth/d and up to 150 Mdth/d for the Transco Regional Energy Access (REA) pipeline currently under development.
  • The reduced gathering fees are consistent with incentive rates that Williams has offered in the past to attract drilling capital and are therefore expected to promote additional drilling across Chesapeake's prolific Haynesville footprint.
  • The South Mansfield assets provide an opportunity for Williams to transition the acreage to a strong and well-capitalized operator that will grow production volumes, and drive growth in fee based cash flows on Williams' existing spare midstream capacity, while also enabling Williams to market significant gas volumes for future downstream opportunities.
  • The commitment to REA provides valuable incremental takeaway capacity for Chesapeake's Marcellus production and the associated Williams gathering systems, while adding a valuable capacity commitment to the Transco project.
  • Reference Links:
  • Williams Announces Global Resolution with Chesapeake

  • Industries: Oil & Gas Exploration & Production, Oil & Gas Operations
    Primary Identifiers: CHKAQ-US, WMB-US
    Related Identifiers: CHKAQ-US, WMB-US
    Subjects: Corporate Actions, Mergers and Acquisitions, M&A Other Announcements, Restructuring
    Related Stories:
  • U.S. Bankruptcy Court approves Chesapeake Energy motions seeking a variety of "first-day" relief; will operate in the ordinary course during the Chapter 11 process ($11.85, 0.00)
  • Chesapeake Energy files for Chapter 11 protection ($11.87, 0.00)

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    From: E_K_S12/8/2020 8:59:06 AM
       of 160
    Kinder Morgan sees 3% rise in 2021 dividend per share
    Dec. 08, 2020 8:47 AM ET Kinder Morgan, Inc. (KMI) By: Carl Surran, SA News Editor 1 Comment

    Kinder Morgan (NYSE: KMI) issues preliminary financial projections for 2021, including $1.08/share in dividends - a 3% Y/Y increase - and $1.2B in distributable cash flow in excess of discretionary capital spending and dividends.

    The company says it reduced 2020 expenses and sustaining capex by nearly $190M, and lowered its discretionary capital outlook for 2020 by $680M, or nearly 30%, resulting in a $160M improvement to DCF less discretionary capex compared to the original budget; net debt-to-adjusted EBITDA ratio at year-end 2020 should be ~4.6x.

    Kinder expects to generate $2.1B in attributable net income in 2021, $2B more than its 2020 forecast, due primarily to asset and goodwill impairments taken last year, and expects to generate $4.4B in DCF during 2021, 3% below its current 2020 forecast, affected by several factors including lower re-contracting rates on certain natural gas pipeline assets.

    The company expects DCF less discretionary capex and dividends of $1.2B in 2021, an improvement of more than $700M vs. the 2020 forecast.

    Kinder also says it plans to invest $800M in expansion projects in 2021.

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    To: E_K_S who wrote (116)12/8/2020 1:44:56 PM
    From: robert b furman
       of 160
    Hi E_K_S,

    It's not the hoped for 20 cents, but all increases in the dividend are graciously received. <smile>

    Compared to many, the 5%, and this 3 cents is a whole lot better than a cut.

    With normalcy and higher prices with bigger volumes, KMI will be one of the better to offer hefty dividend increases in the near future. IMO

    A solid yield based on cost!

    Thank for the prompt post!

    It will be interesting to see the revenue the big pipelines from the Permian produce in 2021,plus all of the liquefaction trains up and running . Should be good growth!


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    From: E_K_S1/18/2021 8:27:46 AM
       of 160
    Biden may cancel Keystone XL pipeline permit as soon as his first day in office: source

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    To: E_K_S who wrote (119)1/18/2021 12:30:19 PM
    From: robert b furman
       of 160
    Hi E_K_S,

    I may well have a bad impression, but I thought there was not a lot of desire to build the pipeline.

    Shale will be so much cheaper and plentiful, with export ability from the Gulf of Mexico already in existence and more coming on why build an expensive pipeline for oil coming from Canada.

    Remember we have a glut of oil. LOL

    Maybe after the Capex destruction we've already endured the price of WTI goes back to 100.00 and it is justifiable, but with a 3 years completion lag?

    Not sur eit is a wise investment?

    Canada has already bought out KMI's Transmountain pipeline. I say let them do a pipeline to the west coast and build a Pacific Coast terminal.

    The alyeska pipeline in Valdez is running at 25%. Seems no real need for the frozen tundra development either.

    A lot of these huge infrastructure plans go away with a commodity collapse.

    I think that is what we're seeing. Once bit twice shy.

    The beauty of inexpensive shale. Prices go up, turm it on, prices go down,turn it off.

    The US holds the pricing of world oil.

    Not a bad place to be in. Surely should curtail long timeframe capital developments - unless the reserves are huge and can be done cheaply over the long run. ie Guyanna, Suriname, Brazil.


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