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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 (KMI) reported strong Q4 2024 financial results with EPS of $0.30, up 11%, and Adjusted EPS of $0.32, up 14% compared to Q4 2023. Net income reached $667 million, with Adjusted EBITDA of $2,063 million, up 7% year-over-year.
The company announced the $1.7 billion Trident Intrastate Pipeline Project, a 216-mile pipeline providing 1.5 Bcf/d capacity from Katy to Port Arthur, Texas. The project backlog increased to $8.1 billion, up nearly 60% from Q3 2024.
For 2025, KMI forecasts net income of $2.8 billion (up 8%), Adjusted EPS of $1.27 (up 10%), and Adjusted EBITDA of $8.3 billion (up 4%). The company approved a Q4 dividend of $0.2875 per share, representing a 2% increase over Q4 2023.
Kinder Morgan (NYSE: KMI) has announced its upcoming fourth quarter 2024 earnings release and webcast schedule. The company will release its Q4 2024 earnings results on Wednesday, January 22, 2025, after market close.
The earnings webcast and conference call will be held at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can access the live webcast through the company's investor relations website or join via phone in listen-only mode. For those unable to attend live, the call recording will be archived on kindermorgan.com and available for replay until February 23, 2025.
Flyscan Systems announced that Kinder Morgan (NYSE: KMI) has joined its strategic investor group, which includes Marathon Petroleum, Enbridge, and Hatch. The investment will support Flyscan's growth and accelerate its entry into the Natural Gas detection and quantification market.
Flyscan, founded in 2015 as a spin-off from Canada's National Optics Institute, is pioneering technology for pipeline leak detection and right-of-way damage prevention. The company utilizes remote sensing and artificial intelligence to detect liquid hydrocarbons and automate visual inspection from regulatory patrol planes.
KMI's COO James Holland emphasized the state-of-the-art nature of Flyscan's technologies and their importance in protecting employees, the environment, and communities. The partnership aims to leverage KMI's strategic footprint across multiple fuel types and extensive presence in the US market.
Kinder Morgan (NYSE: KMI) has announced its subsidiary, Hiland Partners Holdings , will acquire a natural gas gathering and processing system in North Dakota from Outrigger Energy II for $640 million. The acquisition includes a 270 MMcf/d processing facility and a 104-mile, high-pressure rich gas gathering header pipeline with 350 MMcf/d capacity in the Williston Basin area.
The system is supported by long-term contracts with major basin customers. KMI expects the acquisition to be immediately accretive to shareholders, with a 2025 Adjusted EBITDA multiple of approximately 8 times. The deal includes approximately $20 million of expected cash payments in 2025 that receive deferred revenue recognition. The transaction is expected to close in Q1 2025, pending Hart-Scott-Rodino clearance.
Tennessee Gas Pipeline (TGP), a Kinder Morgan (NYSE: KMI) subsidiary, has announced its final investment decision on the Mississippi Crossing Project (MSX). The $1.4 billion project will transport up to 1.5 Bcf/d of natural gas through approximately 206 miles of pipeline and two new compressor stations, connecting Greenville, Mississippi to Butler, Alabama.
The project has secured long-term, binding transportation agreements for all capacity, with discussions ongoing for an additional 0.4 Bcf/d. Expected to be operational by November 2028, the MSX Project will provide the Southeast region with increased access to diverse gas supplies, supporting growing energy demand and potentially lowering energy costs.
This project represents part of KMI's $3.1 billion expansion capital investment, alongside the SNG South System 4 Expansion.
Phillips 66 (NYSE: PSX) has agreed to sell its 25% non-operated equity interest in Gulf Coast Express Pipeline to an ArcLight Capital Partners affiliate for $865 million in pre-tax cash proceeds. This sale exceeds Phillips 66's $3 billion asset divestiture target. The Gulf Coast Express Pipeline is a 500-mile system transporting approximately 2 billion cubic feet of natural gas daily from the Permian Basin to Agua Dulce, Texas. The transaction, valued at 10.6x expected 2025 EBITDA, is set to close in January 2025. Proceeds will support shareholder returns and debt reduction. Post-sale, the pipeline will be jointly owned by Kinder Morgan and ArcLight Capital Partners affiliates.
Kinder Morgan (KMI) has announced its 2025 financial projections, forecasting significant growth across key metrics. The company expects $1.27 Adjusted EPS (up 8% from 2024) and $8.3 billion Adjusted EBITDA (up 4% from 2024). KMI plans to invest $2.3 billion in discretionary capital expenditures and projects an annualized dividend of $1.17 per share, marking the 8th consecutive year of dividend increases.
Growth is expected primarily from Natural Gas Pipelines and Energy Transition Ventures segments. The company's end-of-year 2025 Net Debt-to-Adjusted EBITDA ratio is forecast at 3.8 times, positioning within their target range of 3.5x-4.5x. These projections assume WTI crude oil at $68/barrel and Henry Hub natural gas at $3.00/MMBtu.
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.
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