| From: E_K_S | 1/9/2020 9:53:34 AM | | | | | | Kinder Morgan, Inc. (NYSE:KMI) today announced it has sold all of the approximately 25 million shares of Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) (Pembina) stock it received in connection with Pembina's acquisition of the outstanding common equity of Kinder Morgan Canada Limited. The sale of these shares is consistent with KMI's previously announced intention to convert the shares into cash in an opportunistic and non-disruptive manner, and the after-tax proceeds of $764 million are consistent with KMI's 2020 budget. As previously disclosed, KMI intends to use the proceeds to pay down debt - creating balance sheet flexibility in 2020 (relative to KMI's long-term leverage target of 4.5 times Net Debt-to-Adjusted EBITDA).
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PBA +5% on that news |
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| To: E_K_S who wrote (80) | 1/9/2020 2:58:21 PM | | From: candsrr | | | | | Nice action so far today - new 52 week high. Not too long ago I was looking at 21.50 as a spot to lighten-up a bit. However, after looking at a longer term chart, I'm thinking the 23 area form the fall of 2016 might be a better target. |
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| From: E_K_S | 3/2/2020 12:18:03 PM | | | | | | Kinder Morgan, Energy Transfer rally after insider buys
Mar. 2, 2020 10:58 AM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor
Kinder Morgan ( KMI +2.3%) and Energy Transfer ( ET +3.8%) enjoy heady gains as prominent insiders made big purchases recently as shares were weakening, Barron's reports.
Kinder Morgan Executive Chairman Richard Kinder paid $6.2M on Feb. 26 for 300K KMI shares at an average price of $20.72/share, raising his holdings to 243.4M shares in a personal account and another 11.8M shares through a limited partnership.
Kinder paid 2.1% less than the $21.17 year-end 2019 price of Kinder Morgan stock; KMI dropped 9.4% YTD through Friday's close.
Energy Transfer Chairman and CEO Kelcy Warren paid $45.2M on Feb. 19 for 3.6M publicly traded units at an average price of $12.53, lifting his overall ownership to 255.6M units.
Warren paid 2.3% below Energy Transfer's $12.83 year-end closing price; ET units have since shed 13.6% YTD.
Kinder owns a stake of more than 11% in Kinder Morgan, while Warren owns 9.5% of Energy Transfer, according to S&P Capital IQ. |
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| From: E_K_S | 4/20/2020 3:08:43 PM | | | | | | In for a few more KMI @ $14.51/share. Would like to add more at these prices but going to try to average in. Completed new buys for WMB at/near these prices so KMI on my Buy list now.
Dividend yield at 6.68%.
EKS |
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| From: E_K_S | 4/22/2020 4:45:05 PM | | | | | | Kinder Morgan posts narrow Q1 miss, raises dividend less than projected
Apr. 22, 2020 4:38 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor
Kinder Morgan (NYSE: KMI) -0.9% after-hours as Q1 earnings came in slightly below expectations and distributable cash flow drops 8% Y/Y to $1.26B.
Q1 adjusted EBITDA fell 5.1% Y/Y to $1.85B and revenues slid 9.4% to $3.11B; Q1 dividend rose 5% to $0.2625/share ($1.05 annualized).
"While we have the financial wherewithal to pay our previously planned dividend increase, with significant coverage, in unprecedented times such as these, the wise choice is to preserve flexibility and balance sheet capacity. Consequently, we are not increasing the dividend to the $1.25 annualized that we projected, under far different circumstances, in July of 2017," the company says.
Kinder says it has cut expenses and sustaining capex by more than $100M from its planned budget, and has reduced its 2020 expansion capital outlook by $700M, or nearly 30%.
The company says these actions more than offset the reduction in DCF and should result in an improvement in DCF less expansion capex of ~$200M compared to budget. |
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| To: E_K_S who wrote (84) | 4/22/2020 7:55:25 PM | | From: robert b furman | | | | Hi E_K_S,
For my money, the 5% dividend raise is dandy.
I feel even better that they have become and are now showing that they believe the balance sheet and free cash flow is more important than profitless growth.
Don't get me wrong I'd love th extra 20 cents.
That being said, with this new viewpoint, my bet is we get it even faster in the next 2-5 years.
I like the call - it's what I've have said as well if in the board of directors meeting.
I'll take that raise every year till I parish and smile about it.
Thanks for posting the earnings!
Here is the slide show:
mail.google.com
Bob |
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| To: robert b furman who wrote (85) | 4/22/2020 10:58:31 PM | | From: E_K_S | | | | I picked up some KMI earlier this week. Was Buying WMB earlier this month at about the same price. I like both of the companies and believe they could be up 50% by this time next year (or higher).
Always have to move the oil & NG.
EKS |
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| To: robert b furman who wrote (87) | 4/23/2020 4:18:48 PM | | From: gypsees | | | | | I liked this company very much and had it on my short list. But it was included in an article that questioned some companies being able to survive the current environment due to having too much debt. After reading that I removed it from my list. There were a few other companies on that list that I used to trade 20 years ago in the 30's and higher and they were both sub 1.00. Very sad. |
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| To: gypsees who wrote (88) | 4/23/2020 5:10:05 PM | | From: robert b furman | | | | Hi Gypsees,
I'v had KMI a long time and "got kindered" with the dividend decline years ago.
Since then I've averaged down. (along with E_K_S) - we're kind of the lonely regulars here.
For several years the dividend was substantially reduced and KMI has maintained strong cash flow.
Additionally they did some big deals like selling the transmountain pipeline to the government of Canada.
That reduced their debt by several billions.
Bottom line I like how management owns a LOT of shares and have recently added to their positions.
Bottomline : KMI's pipelines in and around Texas have dialed in very long term natural gas transportation opportunity. Their partners with XOM,CVX and the Saudi's plastics and refineries will be on going longer than I will be alive. Their export alliances with Gulf of Mexico deep water ports for both oil and LNG
There are very long term megatrends regarding natural gas electrical generation and exporting of gas and oil to Mexico. These are dynamic and long term growth businesses.
I know some analysts don't think KMI has a big moat. I disagree. The fact that they have easements and can double their capacity without all of the red tape a new pipeline must endure should be considered a formidable moat IMO.
Some may be upset with the 5 cent increase vs the hoped for 25 cent increase. I'll just accept the 5% dividend increase (which is solid in anyone's book) and have quiet expectations that the next 2-5 years will be very nice dividend growth rates.
This one is going down as a super star when it comes to it's dividend cagr .
Good to have a new poster here.
Natural gas has been the key to the US being the only country out there with a reduced carbon footprint. I suspect it will be a very long trend.
Bob |
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