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, Inc. (KMI) has declared a cash dividend of $0.2825 per share for Q1 2023, marking a 2% increase over Q1 2022, and reporting a net income of $679 million, a slight increase from $667 million the previous year. Distributable cash flow (DCF) for the quarter was $1,374 million, down from $1,455 million, and adjusted earnings reached $675 million, a decrease from $732 million year-on-year. KMI maintained a strong financial position with a net debt-to-adjusted EBITDA ratio of 4.1 times and a project backlog of $3.7 billion. The outlook for 2023 targets net income of $2.5 billion and continued dividend increases. Despite lower operating results in some segments, total natural gas transport volumes rose by 3%.
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