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Kinder Morgan, Inc. (NYSE: KMI) is a leading energy infrastructure company in North America, renowned for its extensive network of pipelines and terminals. The company operates approximately 84,000 miles of pipelines that transport crucial energy products such as natural gas, refined petroleum products, crude oil, and carbon dioxide (CO2). Additionally, Kinder Morgan oversees the operation of about 165 terminals, which handle and store a variety of products, including gasoline, jet fuel, ethanol, coal, petroleum coke, and steel.
Kinder Morgan's diverse portfolio positions it as a market leader in several segments: natural gas pipelines, products pipelines, CO2, terminals, and Kinder Morgan Canada. The company’s strategically located assets are essential to North American energy infrastructure, ensuring the delivery of energy products to high-demand markets. This significant footprint allows Kinder Morgan to play a crucial role in maintaining and supporting the energy supply chain.
Financially, Kinder Morgan has demonstrated resilience and stability through fee-based contracts that generate consistent cash flows. These contracts primarily involve handling, moving, and storing fossil fuel products, providing a reliable revenue stream. The company’s financial health is further strengthened by its strategic partnerships and ongoing projects, aimed at enhancing operational efficiency and expanding its market presence.
In recent developments, Kinder Morgan has entered into a definitive agreement with NextEra Energy Partners, LP (NYSE: NEP) to acquire the Texas natural gas pipeline portfolio for $1.815 billion. This acquisition is set to enhance Kinder Morgan's footprint in the natural gas sector, particularly in South Texas, where the acquired assets primarily serve power producers and municipalities.
For more details, visit Kinder Morgan's official website.
Kinder Morgan (NYSE: KMI) has released its 2023 Sustainability Report, highlighting progress in key areas:
- 8% reduction in absolute methane emissions from 2021
- 35% female and minority participation in leadership training programs
- Improved board diversity to 31% with the addition of Amy Chronis
The report introduces the new greenhouse gas reduction opportunities working group (GROW), focusing on identifying and evaluating additional GHG emission reduction opportunities. Enhanced disclosures include methane emission measurement technologies, GHG reduction strategy, and supplier diversity practices. New metrics cover employee tenure by gender and hazardous waste management. KMI's COO, James Holland, emphasized the company's commitment to aligning business operations with sustainability and diversity initiatives that add value.
Kinder Morgan (NYSE: KMI) reported its Q2 2024 financial results, including earnings per share (EPS) of $0.26 and distributable cash flow (DCF) per share of $0.49. Net income was $575 million, down from $586 million in Q2 2023, while DCF increased to $1.1 billion. The company announced a cash dividend of $0.2875 per share, a 2% increase from last year, payable on August 15, 2024. Adjusted EPS rose by 4%, and Adjusted EBITDA increased by 3% year-over-year. The company highlighted strong performance in its Natural Gas Pipelines, Products Pipelines, and Terminals segments. KMI reaffirmed its 2024 outlook, expecting $2.7 billion in net income and $5 billion in DCF. Major projects include the South System Expansion 4 Project and Altamont Green River Pipeline, aimed at increasing capacity and meeting growing demand for natural gas. The project backlog increased to $5.2 billion, with 80% devoted to lower-carbon energy investments.
Kinder Morgan (NYSE: KMI) will release its second quarter 2024 earnings results on July 17, 2024, after market close. A live webcast and conference call have been scheduled for that day at 3:30 p.m. CT (4:30 p.m. ET).
The webcast can be accessed via Kinder Morgan's investor relations website, and a listen-only option is available by phone. For those unable to attend the live event, the call will be archived on Kinder Morgan's website, and a replay will be available via phone until August 17, 2024.
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