Welcome to our dedicated page for Kinder Morgan news (Ticker: KMI), a resource for investors and traders seeking the latest updates and insights on Kinder Morgan stock.
Kinder Morgan, Inc. (NYSE: KMI) is a leading energy infrastructure company in North America, renowned for its extensive network of pipelines and terminals. The company operates approximately 84,000 miles of pipelines that transport crucial energy products such as natural gas, refined petroleum products, crude oil, and carbon dioxide (CO2). Additionally, Kinder Morgan oversees the operation of about 165 terminals, which handle and store a variety of products, including gasoline, jet fuel, ethanol, coal, petroleum coke, and steel.
Kinder Morgan's diverse portfolio positions it as a market leader in several segments: natural gas pipelines, products pipelines, CO2, terminals, and Kinder Morgan Canada. The company’s strategically located assets are essential to North American energy infrastructure, ensuring the delivery of energy products to high-demand markets. This significant footprint allows Kinder Morgan to play a crucial role in maintaining and supporting the energy supply chain.
Financially, Kinder Morgan has demonstrated resilience and stability through fee-based contracts that generate consistent cash flows. These contracts primarily involve handling, moving, and storing fossil fuel products, providing a reliable revenue stream. The company’s financial health is further strengthened by its strategic partnerships and ongoing projects, aimed at enhancing operational efficiency and expanding its market presence.
In recent developments, Kinder Morgan has entered into a definitive agreement with NextEra Energy Partners, LP (NYSE: NEP) to acquire the Texas natural gas pipeline portfolio for $1.815 billion. This acquisition is set to enhance Kinder Morgan's footprint in the natural gas sector, particularly in South Texas, where the acquired assets primarily serve power producers and municipalities.
For more details, visit Kinder Morgan's official website.
Kinder Morgan (NYSE: KMI) reported its Q3 2024 financial results, highlighting a 17% increase in EPS to $0.28 compared to Q3 2023. The company declared a dividend of $0.2875 per share, up 2% from Q3 2023, payable on November 15, 2024. Net income rose to $625 million from $532 million in Q3 2023, while Adjusted EBITDA increased 2% to $1.88 billion. The DCF per share was $0.49, flat from Q3 2023.
KMI's board approved a $455 million expansion of the Gulf Coast Express Pipeline, increasing natural gas deliveries by 570 MMcf/d. The company also announced a $94 million Gulf Coast Storage Expansion project, adding 10 Bcf of storage capacity.
For 2024, KMI expects net income of $2.7 billion, up 15% from 2023, with projected DCF of $5 billion and Adjusted EBITDA of $8.16 billion, both up 8%. However, due to lower commodity prices and delays, KMI revised its 2024 Adjusted EBITDA and Adjusted EPS down by 2% and 4%, respectively.
Kinder Morgan (NYSE: KMI) has announced its upcoming third quarter 2024 earnings release and webcast details. The company will disclose its financial results on Wednesday, October 16, 2024, after the market closes. A live webcast and conference call will follow at 3:30 p.m. CT (4:30 p.m. ET).
Interested parties can access the webcast through Kinder Morgan's investor relations website or join the audio-only call by dialing 1-312-470-7367 with passcode 7505235. For those unable to attend live, the webcast will be archived on the company's website, and a recording will be available until November 17, 2024, accessible by dialing 1-203-369-3038 with passcode 47813.
Kinder Morgan (NYSE: KMI) has released its 2023 Sustainability Report, highlighting progress in key areas:
- 8% reduction in absolute methane emissions from 2021
- 35% female and minority participation in leadership training programs
- Improved board diversity to 31% with the addition of Amy Chronis
The report introduces the new greenhouse gas reduction opportunities working group (GROW), focusing on identifying and evaluating additional GHG emission reduction opportunities. Enhanced disclosures include methane emission measurement technologies, GHG reduction strategy, and supplier diversity practices. New metrics cover employee tenure by gender and hazardous waste management. KMI's COO, James Holland, emphasized the company's commitment to aligning business operations with sustainability and diversity initiatives that add value.
Kinder Morgan (NYSE: KMI) reported its Q2 2024 financial results, including earnings per share (EPS) of $0.26 and distributable cash flow (DCF) per share of $0.49. Net income was $575 million, down from $586 million in Q2 2023, while DCF increased to $1.1 billion. The company announced a cash dividend of $0.2875 per share, a 2% increase from last year, payable on August 15, 2024. Adjusted EPS rose by 4%, and Adjusted EBITDA increased by 3% year-over-year. The company highlighted strong performance in its Natural Gas Pipelines, Products Pipelines, and Terminals segments. KMI reaffirmed its 2024 outlook, expecting $2.7 billion in net income and $5 billion in DCF. Major projects include the South System Expansion 4 Project and Altamont Green River Pipeline, aimed at increasing capacity and meeting growing demand for natural gas. The project backlog increased to $5.2 billion, with 80% devoted to lower-carbon energy investments.
Kinder Morgan (NYSE: KMI) will release its second quarter 2024 earnings results on July 17, 2024, after market close. A live webcast and conference call have been scheduled for that day at 3:30 p.m. CT (4:30 p.m. ET).
The webcast can be accessed via Kinder Morgan's investor relations website, and a listen-only option is available by phone. For those unable to attend the live event, the call will be archived on Kinder Morgan's website, and a replay will be available via phone until August 17, 2024.
FAQ
What is the current stock price of Kinder Morgan (KMI)?
What is the market cap of Kinder Morgan (KMI)?
What does Kinder Morgan, Inc. do?
What are Kinder Morgan's main business segments?
How does Kinder Morgan generate revenue?
What recent acquisition has Kinder Morgan made?
What products are handled at Kinder Morgan's terminals?
What role does Kinder Morgan play in North American energy infrastructure?
How can I learn more about Kinder Morgan?
What is the significance of Kinder Morgan's strategic partnerships?
Why is Kinder Morgan considered a market leader?
What financial condition does Kinder Morgan maintain?
