Kinder Morgan Inc Del Stock Price, News & Analysis

Crestwood Equity Partners LP (NYSE: CEQP) and Consolidated Edison, Inc. (NYSE: ED) announced the sale of Stagecoach Gas Services LLC to Kinder Morgan, Inc. (NYSE: KMI) for $1.225 billion. Proceeds will be split evenly, enhancing Crestwood's financial flexibility and targeting a leverage ratio of 3.50x to 3.75x by year-end 2021. This divestiture involves a significant portion of Stagecoach valued at $1.195 billion and includes vital gas storage and pipeline assets in New York and Pennsylvania, providing substantial throughput and storage capacity.

Kinder Morgan (NYSE: KMI) has announced its agreement to acquire Stagecoach Gas Services LLC for $1.225 billion. This acquisition includes four natural gas storage facilities with a capacity of 41 billion cubic feet and 185 miles of pipelines linked to major interstate networks. The deal, pending regulatory approval, aims to enhance KMI's service in connecting natural gas supply to Northeast demand. KMI anticipates the investment will be immediately accretive and expects synergies to improve Stagecoach's EBITDA multiple significantly.

Kinder Morgan (NYSE: KMI) announced a cash dividend of $0.27 per share for Q1 2021, reflecting a 3% increase from Q4 2020. The dividend is payable on May 17, 2021, to stockholders on record by April 30, 2021. Q1 2021 net income was $1.41 billion, up from a $306 million loss in Q1 2020, largely due to temporary market conditions following a winter storm. Distributable cash flow (DCF) rose to $2.33 billion, compared to $1.26 billion in the prior year. The company forecasts a net income range of $2.7 billion to $2.9 billion for 2021 and continues to maintain a strong financial position.

Kinder Morgan is set to release its first quarter 2021 earnings results on April 21, 2021, at 3:30 p.m. CT (4:30 p.m. ET). The earnings call will be accessible via webcast at this link or by phone at 1-517-308-9311, passcode 5691744. For those unable to attend live, a replay will be available after the call until July 20, 2021 at 1-203-369-2032, passcode 32121. Kinder Morgan operates 83,000 miles of pipelines and 144 terminals across North America, specializing in energy transportation and storage.

Kinder Morgan (NYSE: KMI) has established a new Energy Transition Ventures group to identify opportunities in the low-carbon energy sector. Led by Jesse Arenivas and Anthony Ashley, the group aims to expand KMI's current initiatives and take advantage of evolving energy markets. The team will focus on various energy transition services, including carbon capture and hydrogen production. CEO Steve Kean noted the group's formation aligns with public policies supporting ESG goals, leveraging KMI's extensive asset base.

A pioneering Responsibly Sourced Gas (RSG) pilot project has launched in Colorado, involving a collaboration among a natural gas producer, a municipal utility, and Project Canary. Colorado Springs Utilities will purchase certified RSG from Bayswater Exploration & Production, processed by Rimrock Energy Partners and transported by Kinder Morgan's Colorado Interstate Gas Company. This initiative aims to enhance sustainability and reduce methane emissions in the natural gas value chain, supported by advanced monitoring technologies and independent certification from Project Canary, a Denver-based B-Corp.

Kinder Morgan and Brookfield Infrastructure Partners announced the sale of a 25% minority interest in Natural Gas Pipeline Company of America (NGPL) to ArcLight Capital for $830 million. This transaction values NGPL at approximately $5.2 billion, representing 11.2 times its 2020 EBITDA. Post-sale, both KMI and Brookfield will each hold a 37.5% interest in NGPL, which plays a significant role in transporting natural gas to the Chicago market and LNG export facilities. The deal is expected to close in Q1 2021.

Representatives of Kinder Morgan (KMI) will host virtual presentations on January 27, 2021, during the Kinder Morgan 2021 Investor Day. They will discuss fiscal year 2020 results, the 2021 near-term outlook, and KMI's long-term plans. Interested parties can access materials and audio webcasts on KMI’s website. The live presentations will start at 8 a.m. CT, with an archived version available for 90 days. Kinder Morgan operates approximately 83,000 miles of pipelines and 144 terminals, providing energy transportation and storage services across North America.