Kinder Morgan, Inc. - KMI STOCK NEWS

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.

Kinder Morgan (NYSE: KMI) will announce its second quarter 2021 earnings results on July 21, 2021, at 3:30 p.m. CT. The earnings webcast can be accessed online or via phone. The event aims to provide insights into the company's financial performance, including revenues and earnings per share. Additionally, the call will be archived for later access until August 21, 2021.

Kinder Morgan operates extensive energy infrastructure, including approximately 83,000 miles of pipelines and 144 terminals, serving key energy transportation and storage needs.

Kinder Morgan, Inc. (NYSE: KMI) has successfully acquired Stagecoach Gas Services LLC, enhancing its natural gas infrastructure portfolio. This acquisition includes four natural gas storage facilities with a total capacity of 41 billion cubic feet, alongside a network of transportation pipelines interconnected with major interstate pipelines, including Tennessee Gas Pipeline. President Kimberly S. Watson emphasized the importance of natural gas as a low-emission energy source and its role in supporting renewable energy. This strategic addition aims to bolster KMI's service capabilities in the Northeast.

Crestwood Equity Partners LP (NYSE: CEQP) and Consolidated Edison, Inc. (NYSE: ED) announced the sale of Stagecoach Gas Services LLC to Kinder Morgan, Inc. (NYSE: KMI) for $1.225 billion. Proceeds will be split evenly, enhancing Crestwood's financial flexibility and targeting a leverage ratio of 3.50x to 3.75x by year-end 2021. This divestiture involves a significant portion of Stagecoach valued at $1.195 billion and includes vital gas storage and pipeline assets in New York and Pennsylvania, providing substantial throughput and storage capacity.

Kinder Morgan (NYSE: KMI) has announced its agreement to acquire Stagecoach Gas Services LLC for $1.225 billion. This acquisition includes four natural gas storage facilities with a capacity of 41 billion cubic feet and 185 miles of pipelines linked to major interstate networks. The deal, pending regulatory approval, aims to enhance KMI's service in connecting natural gas supply to Northeast demand. KMI anticipates the investment will be immediately accretive and expects synergies to improve Stagecoach's EBITDA multiple significantly.

Kinder Morgan (NYSE: KMI) announced a cash dividend of $0.27 per share for Q1 2021, reflecting a 3% increase from Q4 2020. The dividend is payable on May 17, 2021, to stockholders on record by April 30, 2021. Q1 2021 net income was $1.41 billion, up from a $306 million loss in Q1 2020, largely due to temporary market conditions following a winter storm. Distributable cash flow (DCF) rose to $2.33 billion, compared to $1.26 billion in the prior year. The company forecasts a net income range of $2.7 billion to $2.9 billion for 2021 and continues to maintain a strong financial position.

Kinder Morgan is set to release its first quarter 2021 earnings results on April 21, 2021, at 3:30 p.m. CT (4:30 p.m. ET). The earnings call will be accessible via webcast at this link or by phone at 1-517-308-9311, passcode 5691744. For those unable to attend live, a replay will be available after the call until July 20, 2021 at 1-203-369-2032, passcode 32121. Kinder Morgan operates 83,000 miles of pipelines and 144 terminals across North America, specializing in energy transportation and storage.