|Bid||20.92 x 1100|
|Ask||20.92 x 1100|
|Day's Range||20.63 - 20.95|
|52 Week Range||14.62 - 21.50|
|Beta (3Y Monthly)||0.94|
|PE Ratio (TTM)||20.96|
|Earnings Date||Oct 15, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||1.00 (4.83%)|
|1y Target Est||22.15|
Energy Transfer (ET) stock has recovered in the last two trading sessions after investors hammered it on its plans to acquire SemGroup (SEMG).
One of the largest energy infrastructure companies in North America is extending its lease at Port Manatee The Palmetto-based port and longtime tenant Kinder Morgan (NYSE: KMI) have extended their lease agreement through August 2023, with options to continue cargo operations at a 5-acre waterfront site for as many as 18 additional years, following the approval of the item during the board's Thursday meeting. The initial term of the lease was to end in August 2020. “As North America’s largest independent terminal-operating company, Kinder Morgan sees Port Manatee as a vital cog in a network that gets products where they need to be in an efficient, safe and timely manner,” said Tampa-based Kinder Morgan commercial manager Jack Gale in an announcement. Kinder Morgan has operated on Port Manatee property since 2001, having assumed a lease in place with a predecessor entity dating back to the port’s opening in 1970. The Kinder Morgan Port Manatee Terminal facility handles fertilizers, ores, salt and other inbound and outbound bulk cargos via multiple ship docks, warehouses, conveyor systems and truck and rail sheds.
Moody's Investors Service (Moody's) has withdrawn all of the ratings of Midcontinent Express Pipeline LLC (MEP) including its Ba2 Corporate Family Rating (CFR) and Ba2-PD Probability of Default Rating (PDR), in conjunction with the maturity and repayment of MEP's $450 million senior unsecured notes. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com. Midcontinent Express Pipeline LLC is a 50/50 joint venture between subsidiaries of Kinder Morgan, Inc. and Energy Transfer Operating, L.P. The pipeline originates near Bennington, Oklahoma, cuts across northeast Texas, northern Louisiana, central Mississippi, and terminates at Transco Station 85 near Butler, Alabama.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Southern Natural Gas Company 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. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Florida Gas Transmission Company, LLC 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. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
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.