Kinder Morgan, Inc. - KMI STOCK NEWS

Kinder Morgan, Inc. (NYSE: KMI) published its 2020 Environmental, Social and Governance (ESG) report, marking the first inclusion of company-wide Scope 1 and Scope 2 greenhouse gas (GHG) emissions data. The report, fulfilling a prior commitment, reveals a methane emission intensity rate of 0.04%, outperforming its 2025 target of 0.31%. Furthermore, KMI is investing in renewable energy to enhance its climate change strategy and has initiated pilot projects for responsibly sourced natural gas in Colorado and the Northeast U.S.

Kinder Morgan, Inc. (NYSE: KMI) has declared a cash dividend of $0.27 per share for Q3 2021, reflecting a 3% increase year-over-year. The dividend, annualizing to $1.08, will be payable on November 15, 2021. The company reported a net income of $495 million for the quarter, compared to $455 million in Q3 2020, alongside distributable cash flow (DCF) of $1,013 million. Despite a slight drop in DCF per share, Kinder Morgan maintains strong financial performance, emphasizing its commitment to shareholder returns, debt management, and strategic growth in low-carbon initiatives.

Kinder Morgan, Inc. (NYSE: KMI) will release its third quarter 2021 earnings results on October 20, 2021, at 3:30 p.m. CT. Investors can access the earnings webcast via the company's investor relations website or listen by phone. A recording will be available after the call until November 20, 2021. Kinder Morgan is a leading energy infrastructure company in North America, operating approximately 83,000 miles of pipelines and 144 terminals, providing essential energy transportation and storage services.

Riley Exploration Permian (REPX) announced updates regarding its enhanced oil recovery (EOR) pilot project and declared a cash dividend of $0.31 per share, payable on November 4, 2021. The agreements include a connection to the Cortez Pipeline and a CO2 purchase agreement with Kinder Morgan, facilitating the EOR project in Yoakum County, Texas. This initiative aims to enhance CO2 pipeline infrastructure access. The dividend reflects a 10% increase, showcasing the company's commitment to returning capital to shareholders.

Kinetrex Energy, a Kinder Morgan company, and Wabash Valley Power Alliance have commenced construction on three renewable natural gas (RNG) facilities in Indiana. These sites aim to produce a combined total of 3.5 billion cubic feet of RNG annually and are projected to begin commercial operations by fall 2022. A total investment of $146 million is planned. The RNG produced is expected to significantly reduce greenhouse gas emissions, replacing around 28 million gallons of diesel fuel yearly.

Kinder Morgan (NYSE: KMI) and Southwestern Energy (NYSE: SWN) have launched a strategic agreement to deliver responsibly sourced natural gas (RSG) in the northeastern United States. This initiative aims to reduce methane emissions by ensuring that RSG meets stringent environmental standards, targeting a methane intensity of 1% or lower by 2025. The RSG will power approximately 100,000 homes annually and reduce GHG emissions equivalent to removing 5,000 vehicles. The initiative underscores both companies' commitment to sustainable energy solutions, with the market benefits expected from November 1, 2021.

Kinder Morgan has successfully completed its acquisition of Kinetrex Energy for $310 million. This strategic move involves two small-scale LNG production facilities and a 50% stake in a landfill-based renewable natural gas facility in Indiana. Kinetrex, a leading Midwest LNG supplier, will retain its name under Kinder Morgan. The acquisition is expected to enhance Kinder Morgan's energy solutions portfolio, tapping into upcoming renewable natural gas opportunities that promise attractive returns for shareholders.

Kinder Morgan's board approved a cash dividend of $0.27 per share for Q2 2021, totaling $1.08 annualized, payable on August 16, 2021. This reflects a 3% increase compared to Q2 2020. Despite a net loss of $757 million attributed to non-cash impairments, distributable cash flow rose to $1,025 million. The company projects a 2021 net income of $1.7 billion with a DCF of $5.4 billion. Significant acquisitions, including Stagecoach Gas Services LLC, underline KMI's commitment to maintaining a robust balance sheet while delivering shareholder returns.

Kinder Morgan (NYSE: KMI) has agreed to acquire Kinetrex Energy, a leading Midwest supplier of liquefied natural gas (LNG) and renewable natural gas (RNG), from Parallel49 Equity. Kinetrex operates Indiana's largest RNG facility and plans to construct three additional RNG facilities, expected to produce over four billion cubic feet annually. The acquisition aims to enhance KMI’s portfolio in renewable energy, anticipated to be accretive to shareholders with an estimated purchase price below six times expected 2023 EBITDA. The deal awaits regulatory approval and is projected to close in Q3 2021.