Welcome to our dedicated page for Kinder Morgan news (Ticker: KMI), a resource for investors and traders seeking the latest updates and insights on Kinder Morgan stock.
Kinder Morgan, Inc. reports news about a U.S. energy infrastructure business centered on natural gas pipelines, working gas storage, and refined products, crude oil and condensate transportation. Updates around KMI include quarterly financial results, cash dividends, segment volume trends, project backlog changes, and expansion activity tied to natural gas demand from power generation and local distribution customers.
Company announcements also cover customer open seasons and commercial commitments for refined products pipeline capacity, including projects that use existing Kinder Morgan assets. Operational commentary commonly addresses natural gas system utilization, products pipelines transport rates, crude and condensate volumes, and pipeline conversions to natural gas liquids service.
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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