|Bid||20.44 x 3000|
|Ask||20.47 x 800|
|Day's Range||20.31 - 20.55|
|52 Week Range||14.62 - 21.50|
|Beta (3Y Monthly)||0.94|
|PE Ratio (TTM)||20.51|
|Earnings Date||Oct 15, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||1.00 (4.90%)|
|1y Target Est||22.20|
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Kinder Morgan, Inc. New York, September 13, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Kinder Morgan, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
NYSE: PBA) (Pembina) to amend and restate the previously announced arrangement agreement dated August 20, 2019 to include the preferred shares of KML in the arrangement transaction. If requisite approval by the holders of KML preferred shares is obtained, upon closing of the transaction, each outstanding KML preferred share of a series will be exchanged for a preferred share of Pembina with the same commercial terms and conditions as that series of KML preferred shares. The inclusion of KML preferred shares in the transaction is subject to approval by at least 66 2/3% of the votes cast by holders of KML preferred shares, voting together as a single class, present in person or represented by proxy at the special meeting of the holders of KML preferred shares to be held to approve the transaction, but is not a condition to closing of the transaction.
Kinder has been one of the hottest energy stocks this year, surging 36%, including dividend payments. But Bill Selesky of Argus Research downgraded the stock to Hold from Buy, saying earnings growth could slip.
Analysts at Argus on Tuesday downgraded the stock of Kinder Morgan Inc. to their equivalent of neutral, from buy. With prices for crude oil, natural gas and natural gas liquids trending lower, Kinder Morgan's volume and capacity demand will be restricted, the analysts said. "As a result, we see the potential for further reductions in KMI's adjusted EBITDA rate, which should lead to a lower earnings growth rate in the near-term," they said. The neutral rating is appropriate "until commodity markets begin to mount a sustainable rebound," the analysts said. Shares of Kinder Morgan have gained 31% this year, compared with gains of 18% for the S&P 500 index.
Kinder Morgan is the stalking horse bidder for the two assets, which are being sold by a Dallas-based company out of Chapter 11 bankruptcy.
Spot natural gas prices at the Waha hub in the Permian basin in West Texas rose to their highest since March as Kinder Morgan Inc's new Gulf Coast Express pipeline prepares to enter service over the next month. The $1.75 billion Gulf Coast Express will provide much-needed takeaway capacity from the Permian region, where prices turned negative earlier this year and producers have flared record amounts of gas. Since deliveries started to flow into the Gulf Coast Express in early August, next-day prices at Waha rose as high as $2.10 per million British thermal units (mmBtu) on Aug. 28, their highest since March, according to data from Refinitiv.
Yesterday, Barron’s reported on cofounder Richard Kinder’s latest purchase of $13.9 million worth of Kinder Morgan (KMI) stock in August.
A couple of board chairs increased their stakes last week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. Bunge Ltd (NYSE: BG) saw a director step up to the buy window again last week.
Richard Kinder hasn’t lacked enthusiasm for the energy-pipelines company he co-founded and serves as executive chairman, judging by his stock purchases this year.
TechnipFMC (FTI) plans to spin off its engineering and construction business to create two independent companies, while Kinder Morgan (KMI) will sell its Canadian unit and portion of a pipeline.
The deal values the Canadian subsidiary at approximately $1.73 billion, with Kinder Morgan's 70 percent stake representing about $935 million, and the U.S. portion of the pipeline at nearly $1.55 billion.
(Bloomberg) -- Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years.Pembina Pipeline Corp., based in Calgary, is snapping up Kinder’s Canadian assets and a cross-border pipeline in a $3.3 billion deal. For Houston-based Kinder, the deal completes an exit from a country that has frustrated more than a few companies -- from ConocoPhillips and Royal Dutch Shell Plc to Marathon Oil Corp.The drumbeat of exits, rare for such a stable oil-producing country, adds an extra layer of gloom for an industry that accounts for about a fifth of Canada’s exports. The energy sector -- centered around Alberta’s oil sands -- has struggled to rebound since the 2014 crash in global oil prices, with capital spending declining for five straight years and job cuts pushing the province’s unemployment rate above 6%. Alberta is forecast to post the slowest growth of any region in Canada this year.The situation isn’t likely to improve any time soon, with key pipelines like TC Energy Corp.’s Keystone XL and Enbridge Inc.’s expansion of its Line 3 conduit bogged down by legal challenges. The lack of pipelines has weighed on Canadian heavy crude prices for years, sending them to a record low late in 2018.“If they thought things were getting better in Canada, they might hold on, but they don’t see things getting better,” Laura Lau, who helps manage more than C$2 billion ($1.5 billion) at Brompton Corp. in Toronto, said in an interview. “The pipeline situation is getting worse; everything is getting worse.”Other recent major divestitures include ConocoPhillips’ $13.2 billion sale of oil-sands and natural gas assets to Cenovus Energy Inc. in 2017, and Shell’s and Marathon’s sales of their stakes in an oil-sands project to Canadian Natural Resources Ltd. for about $10.7 billion that same year. Canadian Natural also bought Oklahoma City-based Devon Energy Corp.’s Canadian heavy oil assets this year for $2.79 billion. Norway’s Equinor ASA pulled out in 2016 after facing pressure at home to invest in lower-emission projects.While a government curtailment program has boosted oil sands prices to more normal levels, the system has prevented companies from investing in new deposits. What’s more, the oil sands are often viewed by investors as a higher-cost jurisdiction that produces a lower quality of heavy crude. Those persistent drags are likely to keep Canadian assets at the top of international companies’ lists for potential disposal, Lau said.Kinder Morgan is in many ways the perfect example of the troubles -- including slow-moving regulatory processes, an active environmental movement, and a variety of inter-provincial squabbles. The company bought the Trans Mountain pipeline, which carries crude and other products from Edmonton to a shipping terminal in Vancouver, for about $5.6 billion in 2005 in a bid to gain exposure to the oil sands -- the world’s third-largest crude reserves.But a plan to roughly triple the capacity of the line got bogged down amid opposition from indigenous groups, environmentalists and British Columbia’s government. Kinder threatened to scrap the expansion, which all but forced Prime Minister Justin Trudeau’s government to step in and buy the entire line for about $3.45 billion last year. The project took an initial step forward on Thursday as contractors were given approval to start some work on the line.Bad Signal“When they sold Trans Mountain, there wasn’t much left, and it was just a matter of time for them to exit Canada completely,” Lau said. “But definitely another foreign company exiting Canada doesn’t send a good signal.”Not all foreign operators have abandoned Canada. Exxon Mobil Corp. still has a sizable presence with its controlling stake in Imperial Oil Ltd., a C$25 billion company. Shell, based in The Hague, still owns a refining complex and natural gas production in Alberta and British Columbia. France’s Total SA owns a portion of the Fort Hills mine, and Japanese and Chinese companies also have oil-sands projects. Conoco still has an oil-sands facility and holdings in the Montney shale play.A potential catalyst for the sector could be the election of a Conservative government in Canada’s federal election in October, said Rafi Tahmazian, senior portfolio manager at Canoe Financial. That may change global investors’ perceptions about the support the industry would receive from the government.“The silver lining in this whole process is that Canada owns Canada again, and we got it pretty cheap,” Tahmazian said in an interview. “Now the question is can we take advantage of that by allowing ourselves a more friendly environment for foreign investment?”(Updates with Trans Mountain in ninth paragraph)\--With assistance from Divya Balji.To contact the reporter on this story: Kevin Orland in Calgary at firstname.lastname@example.orgTo contact the editors responsible for this story: David Scanlan at email@example.com, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Kinder Morgan (KMI) announced that it agreed to sell the US portion of Cochin Pipeline and its 70% stake in Kinder Morgan Canada Ltd. to Pembina Pipeline.