KMI up 5+% today in response to KMI's plan to continue to offload CapEx spending on partners. From a Motley Fool article: "This past week the company announced one such transaction, agreeing to sell a 50% equity interest in its Utopia Pipeline Project to private equity firm Riverstone Investment Group. Under the terms of the agreement, Riverstone will pay Kinder Morgan an upfront cash fee reimbursing it for the 50% share of CapEx that has been expended up to that point. In addition to that, Kinder Morgan will receive another payment to recognize the value it has created in developing the project. Further, Riverstone will pay its 50% share of the projects costs going forward.
This is a pretty sweet deal for Kinder Morgan. Not only does it save $250 million, which is half of the project's cost, but it gets paid a premium on top of that. That cash improves the company's financial flexibility, which could enable it to return more cash to shareholders than initially anticipated".