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Stock Market & Financial Investment News

News Breaks
December 4, 2012
06:03 EDTKMIKinder Morgan releases financial expectations for FY13
Kinder Morgan announced its preliminary 2013 projections for Kinder Morgan (KMI), Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). Company stated, "We anticipate strong growth in 2013 across the Kinder Morgan family of companies. KMI's growth is driven primarily by its ownership of the general partners of KMP and EPB. The majority of our assets resides at KMP and EPB. KMR is financially equivalent to KMP, but does not own any assets. Kinder Morgan primarily owns or operates a diversified portfolio of fee-based energy assets that generate substantial cash flow in virtually all types of market conditions. With our large footprint of midstream assets in North America, we are confident that Kinder Morgan is well positioned for future growth." KMI expects to declare dividends of $1.57 per share for 2013. This represents a 16% increase over KMI's 2012 budget target of $1.35 per share and a 12% increase over the $1.40 per share of dividends it expects to declare for 2012. Growth at KMI in 2013 is expected to be driven by continued strong performance at KMP, along with contributions from EPB and the natural gas assets that KMI acquired in the El Paso Corporation transaction. KMP expects to declare cash distributions of $5.28 per unit for 2013, a 6% increase over its 2012 budget target of $4.98 per unit, which it expects to meet. KMP's 2013 budget projection includes the expected purchase of 50% of El Paso Natural Gas Pipeline and a 50% stake in midstream assets from KMI, which would give KMP 100 percent ownership of these assets.
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October 31, 2014
11:21 EDTKMIKinder Morgan places Sierrita pipeline in service
Kinder Morgan Energy Partners (KMP) announced that the fully subscribed Sierrita Pipeline has begun service. The approximately 60-mile, 36-inch diameter pipeline provides approximately 200 million cubic feet per day of firm transportation capacity and extends from El Paso Natural Gas’ (EPB) existing south mainlines near Tucson, Arizona, to the U.S.-Mexico border near Sasabe, Arizona. The Sierrita Pipeline interconnects via a new international border crossing with a new natural gas pipeline in Mexico. It will help Mexico meet its environmental goals of converting existing fuel-oil-fired power generation plants to efficient, clean burning natural gas and provide natural gas for future power plants. The project was built in partnership with MGI Enterprises US LLC, a wholly owned affiliate of Pemex Gas y Petroquímica Básica, a subsidiary of Petróleos Mexicanos, the Mexican state-owned oil and gas company, and MIT Pipeline Investment Americas, Inc., a subsidiary of Mitsui & CO., LTD (MITSY).
09:36 EDTKMIKinder Morgan seeks court order against protesters blocking work, G&M says
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