Kinder Morgan Inc

KMI

Equity

ISIN US49456B1017 / Valor 12411428

New York Stock Exchange, Inc (2024-12-26)

USD 27.25-0.29%

Kinder Morgan Inc
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About company

Kinder Morgan Inc. (KMI), founded in 1997 by Richard D. Kinder and William V. Morgan, has evolved into one of North America's premier energy infrastructure companies. Leveraging the master limited partnership (MLP) structure for growth, KMI has significantly expanded its operations through strategic acquisitions and developments. The company now boasts an extensive network, owning an interest in or operating around 82,000 miles of pipelines and 140 terminals. These assets are crucial for the transportation and storage of natural gas, gasoline, crude oil, CO2, and other commodities, underscoring Kinder Morgan's pivotal role in North America's energy sector. With approximately 11,000 employees, KMI has executed major transactions to bolster its market position, including the $38 billion acquisition of El Paso Corporation in 2012, making it a leading midstream and one of the largest natural gas network operators in the continent. Further consolidating its operations, in 2014, KMI acquired all publicly held shares of KMP, KMR, and EPB in a deal valued at approximately $76 billion, streamlining its structure into one publicly traded entity listed on the New York Stock Exchange under the ticker KMI.

Summarized from source with an LLMView SourceSector: Energy

Quarterly Earnings

Kinder Morgan Inc. reported its financial results for the third quarter of 2024, showcasing a strong performance. The company achieved earnings per share (EPS) of $0.28, marking a 17% increase compared to the same quarter in 2023. However, the adjusted EPS remained flat at $0.25. The net income attributable to Kinder Morgan was $625 million, up from $532 million in the third quarter of the previous year.

Revenue and Cash Flow

In the third quarter of 2024, Kinder Morgan generated cash flow from operations amounting to $1.2 billion. The company also reported $0.6 billion in free cash flow after capital expenditures. This financial strength allowed Kinder Morgan to internally fund high-quality capital projects, maintaining a robust operational and financial performance.

Dividend Announcement

Kinder Morgan's board of directors approved a cash dividend of $0.2875 per share for the third quarter of 2024, which is a 2% increase over the same period in 2023. This dividend is payable on November 15, 2024, to stockholders of record as of October 31, 2024. The annualized dividend amounts to $1.15 per share.

Business Segment Performance

The Natural Gas Pipelines and Terminals business segments contributed significantly to Kinder Morgan's financial performance in the third quarter of 2024. The Adjusted EBITDA for the quarter was $1,880 million, a 2% increase from the third quarter of 2023. The company also advanced several projects, including a $455 million expansion on the Gulf Coast Express Pipeline.

2024 Financial Outlook

Looking ahead, Kinder Morgan has budgeted net income attributable to the company of $2.7 billion for 2024, representing a 15% increase compared to 2023. The company expects to declare dividends of $1.15 per share for the year, a 2% increase from 2023. Additionally, Kinder Morgan anticipates ending 2024 with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times, despite some challenges related to commodity prices and project start-up delays.

Summarized from source with an LLMView Source

Key figures

52.7%1Y

74.2%3Y

28.5%5Y

Performance

18.4%1Y

21.8%3Y

32.7%5Y

Volatility