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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.
News For KMI From The Last 14 Days
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July 28, 2015
10:31 EDTKMIKinder Morgan starts binding open season for Mier-Monterrey pipeline expansion
Kinder Morgan Gas Natural de Mexico, a subsidiary of Kinder Morgan, announced the start of a binding open season to solicit interest for incremental firm natural gas transportation service on its Mier-Monterrey pipeline, which would expand capacity to approximately 1.34B cubic feet per day. The expansion project, which would be completed by the fourth quarter of 2017, will consist of the looping of the existing Mier-Monterrey pipeline system from the Mexico-United States border to Huinalá, Nuevo León, Mexico, and a new lateral from Pesquería, Nuevo León, Mexico, to Escobedo, Nuevo León, Mexico. The open season bid period begins on Aug. 13, 2015, and ends at 5 p.m. Central Time on Aug. 22, 2015.
July 24, 2015
16:44 EDTKMIUIL Holdings to invest in natural gas pipeline project
UIL Holdings Corporation (UIL) will invest in a natural gas transmission pipeline project that, when complete, is expected to alleviate capacity constraints in the system that serves New England and the northeast region. UIL announced its investment in the development of Kinder Morgan’s (KMI) proposed Northeast Energy Direct natural gas pipeline project, which will extend approximately 188 miles of new transmission pipeline from New York State, through Massachusetts and New Hampshire. The new pipeline is expected to begin commercial operation in 2018. Under an agreement signed this week, UIL has acquired a 2.5% interest, or approximately $80M, in Northeast Expansion. UIL will also have additional options -- under limited circumstances -- to increase its equity participation. Northeast Expansion is the joint venture responsible for development, construction and ownership of the new pipeline, which will be part of Kinder Morgan’s Tennessee Gas Pipeline system.

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