|Bid||0.00 x 1000|
|Ask||0.00 x 1400|
|Day's Range||16.02 - 16.33|
|52 Week Range||14.69 - 21.25|
|PE Ratio (TTM)||1,607.00|
|Earnings Date||Jul 17, 2018 - Jul 23, 2018|
|Forward Dividend & Yield||0.80 (4.99%)|
|1y Target Est||20.67|
Kinder Morgan (KMI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Justin Trudeau’s pipeline nightmare may be only getting started. As Kinder Morgan Inc. drives a hard bargain in Canada’s attempt to save the Houston-based company’s embattled Trans Mountain project, the prime minister could end up fighting for an asset that hardly anybody wants. Pipeline giant Enbridge Inc., for one, signaled it doesn’t.
TORONTO/WINNIPEG, Manitoba (Reuters) - Canada's Finance Minister Bill Morneau on Thursday highlighted the country's pension funds as possible investors in Kinder Morgan Inc's (KMI.N) pipeline expansion, but industry sources were skeptical about attracting new investors. Morneau on Wednesday raised the prospect of foreign funding, saying "plenty of investors would be interested" if Kinder Morgan Canada (KML.TO) walked away from the project. "We have very sophisticated Canadian pension funds and institutional investors that have a high level of understanding of how you embark on infrastructure projects and a great deal of experience around the world in bringing those projects to completion," Morneau told Reuters in an interview.
TORONTO/WINNIPEG, Manitoba, May 17 (Reuters) - Canada's Finance Minister Bill Morneau on Thursday highlighted the country's pension funds as possible investors in Kinder Morgan Inc's pipeline expansion, but industry sources were skeptical about attracting new investors. Morneau on Wednesday raised the prospect of foreign funding, saying "plenty of investors would be interested" if Kinder Morgan Canada walked away from the project. "We have very sophisticated Canadian pension funds and institutional investors that have a high level of understanding of how you embark on infrastructure projects and a great deal of experience around the world in bringing those projects to completion," Morneau told Reuters in an interview.
Canada’s finance minister said his plan to indemnify Kinder Morgan Inc. against losses on its Trans Mountain expansion project would be carried out in a commercially viable way. Bill Morneau said Thursday the government was not looking to give “a grant or a subsidy” to get the C$7.4 billion ($5.6 billion) pipeline built and that talks are continuing with the company. Morneau and Prime Minister Justin Trudeau continue to prod Kinder Morgan Canada Ltd. to go ahead with Trans Mountain.
Energy Transfer Partners (ETP) and Energy Transfer Equity’s (ETE) weak financial positions have been a concern. Energy Transfer Partners ended the first quarter with a total outstanding debt of $33.5 billion—a 1.3% increase compared to the total debt at the end of 2017. At the same time, Energy Transfer Equity reported total outstanding debt of $42.2 billion at the consolidated level.
Williams Partners (WPZ) rallied 7% early yesterday following a merger announcement with its GP, Williams Companies (WMB). The c-corp GP has agreed to acquire all the outstanding units of the MLP in a stock-for-unit deal valued at $10.5 billion.
Energy Transfer Partners (ETP) posted strong earnings growth in the recent quarter. High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance. While the partnership’s leverage position improved considerably in recent quarters due to balance sheet strengthening measures and earnings growth, its cost of equity continued to stay higher.
Inc.’s losses on the Trans Mountain pipeline expansion caused by British Columbia’s efforts to delay and potentially kill the project. , underlines the importance the project represents for the government, the economy and the country’s energy sector. The Trans Mountain expansion, with a price tag of 7.4 billion Canadian dollars (US$5.75 billion), marks a last chance to significantly increase the amount of crude oil Canada’s energy producers can get to faster-growing Asian markets via the Pacific Coast.
Canada is prepared to cover some losses Kinder Morgan Canada Ltd might suffer if a proposed oil pipeline expansion is delayed and thinks other investors are ready to step in if need be, Finance Minister Bill Morneau said on Wednesday. The company has given Ottawa a deadline of May 31 to provide assurances it can proceed with a plan to more than double the capacity of its Trans Mountain line from Alberta to British Columbia.
Canada's federal government will cover financial losses a pipeline builder might suffer if British Colombia's provincial government continues to obstruct the Trans Mountain pipeline expansion, the country's finance minister said Wednesday. Finance Minister Bill Morneau also said that other investors would step in if Houston-based Kinder Morgan backs out of the expansion, which would triple the capacity of a line carrying oil from Alberta to a Pacific port. Kinder Morgan has halted essential spending on the project and says it will cancel it altogether if the national and provincial governments cannot guarantee it.
On May 15, the API released its crude oil inventory report. The API reported that US crude oil inventories increased by 4.85 MMbbls on May 4–11. Analysts estimate that US oil inventories could have decreased by 0.8 MMbbls during the same period. The API added that the crude oil inventory at Cushing increased by ~0.1 MMbbls on May 4–11.
By David Ljunggren and Leah Schnurr OTTAWA (Reuters) - Canada is prepared to cover some losses Kinder Morgan Canada Ltd might suffer if a proposed oil pipeline expansion is delayed and thinks other investors are ready to step in if need be, Finance Minister Bill Morneau said on Wednesday. The company has given Ottawa a deadline of May 31 to provide assurances it can proceed with a plan to more than double the capacity of its Trans Mountain line from Alberta to British Columbia. "We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated," Morneau told reporters on the same day that Kinder Morgan Canada is holding its annual general meeting.
Justin Trudeau’s government is prepared to reimburse Kinder Morgan Canada Ltd. for any financial losses incurred by “politically motivated” delays in its proposed pipeline expansion to the Pacific coast. Canadian Finance Minister Bill Morneau said Wednesday he will “indemnify” the C$7.4 billion ($5.6 billion) Trans Mountain project, which faces fierce opposition from British Columbia’s provincial government. “We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated,” Morneau said in Ottawa, referring to British Columbia Premier John Horgan.
Justin Trudeau's government is prepared to reimburse Kinder Morgan Canada for any financial losses incurred by 'politically motivated' delays.
Of the analysts covering Kinder Morgan (KMI), 64% recommended “buy,” and 36% recommended “hold.” Their price target for Kinder Morgan is $21, implying a 28% upside to its current price of $16.45.
Kinder Morgan (KMI) has a capital project backlog of $12 billion over five years, largely consisting of projects for which Kinder Morgan has secured commercial contracts. Notably, $5.7 billion (48%) of this $12 billion relates to Kinder Morgan Canada’s Trans Mountain expansion project.
The number of Enterprise Products Partners (EPD) shares shorted fell ~37.5% from ~17.3 million on April 13 to ~10.8 million on April 30. According to data released on May 9, short interest in Enterprise Products Partners as a percentage of its float is ~0.8%. Enterprise Products’ short interest ratio is 2x, which shows that it would take nearly two days to cover all open short positions in EPD.
Kinder Morgan (KMI) stock rose 2.5% last week (ended May 11), outperforming Enterprise Products Partners (EPD), which rose 2.1%. ONEOK (OKE) and the Energy Select Sector SPDR ETF (XLE) rose 3.7% and 3.9%, respectively, and crude oil rose 1.4%, remaining above $70 per barrel in four of the five days.
According to recent filings, the top ten investors in Kinder Morgan (KMI) added net 20.3 million Kinder Morgan shares to their positions. According to a March 9 filing, Richard Kinder added 0.5 million KMI shares to his position. Kinder owns nearly 246 million KMI shares, which represent 11.1% of KMI’s total outstanding shares. BlackRock Institutional Trust disclosed an addition of 0.6 million KMI shares in a March 31 filing.
Kinder Morgan’s (KMI) net debt stood at $37.0 billion at the end of 1Q18, $331 million higher quarter-over-quarter. Of the $331 million increase, nearly $100 million was associated with increased debt at Kinder Morgan Canada (KML.TO). Notably, Kinder Morgan’s net debt has fallen ~$5.8 billion since the end of 1Q15.
The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Canadian Association of Mutual Insurance ...
ONEOK (OKE) stock saw quite a few price target raises on May 3 after its 1Q18 earnings release on May 1: Citigroup, from $64 to $67 Stifel, from $61 to $62 Guggenheim, from $62 to $68 RBC, from $70 to $72 Deutsche Bank, from $62 to $65
All four companies we’re analyzing—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—raised their capital expenditure YoY (year-over-year) in 2017. Enterprise Products Partners’ capital spending rose 11% in 2017 while Williams Partners’ rose 24%.
All four midstream companies we’re analyzing in this series—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—are trading at attractive yields. Enterprise Products Partners and MPLX are trading at yields of 6.4% and 7.1%, respectively, while Williams Partners is trading at a yield of ~6.7%. Kinder Morgan’s recent 60% dividend increase has raised its yield to ~5.0%.