|Bid||16.69 x 0|
|Ask||16.97 x 0|
|Day's Range||16.60 - 16.82|
|52 Week Range||14.93 - 20.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.65 (3.85%)|
|1y Target Est||17.22|
Kinder Morgan (KMI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Pitting two of the largest midstream players in North America against each other reveals some interesting facts
TORONTO/NEW YORK (Reuters) - Kinder Morgan Inc (NYSE:KMI - News) has hired investment bank TD Securities (Toronto:TD.TO - News) to facilitate a potential sale of its Canadian business, which could fetch as much as C$2.4 billion ($1.8 billion), people familiar with the situation told Reuters this week. Should the move succeed, it would mark the exit of the U.S. pipeline giant from Canada, having closed its sale of the Trans Mountain pipeline to the Canadian government for about C$4.5 billion at the end of last month. After the Reuters report on the hiring of the bank, shares in Kinder Morgan Canada Ltd (Toronto:KML.TO - News), which completed its initial public offering just last year, turned positive and jumped 3.7 percent to a three-month high.
Rising coal prices could get another boost as Hurricane Florence shuts down exports from the Virginia coast, halting supplies to elsewhere in the world. With the powerful hurricane bearing down on the Southeast, terminals in and near Norfolk, Va., that handle the majority of U.S. coal exports were, as of Thursday afternoon, permitted to receive ships on a case-by-case basis, needing approval by the U.S. Coast Guard. Cutting off exports could support coal prices, which have already been rebounding, according to Seaport Global Securities LLC analyst Mark Levin.
A court ruling was a setback for the expansion of Trans Mountain Pipeline. Its acquisition by the government takes a big chunk from the company's assets, but Kinder Morgan Canada Ltd. (TSX:KML) plans to return $1.2 billion of the $4.5 billion paycheck to shareholders and slash debt.
Some First Nations and Metis communities are determined to purchase an equity stake in the Trans Mountain pipeline expansion despite a court ruling that halted construction and potentially set the project back for years. The Federal Court of Appeal ruling quashed the government's approval of the project, requiring it to examine the impacts of increased tanker traffic and consult more deeply with Aboriginal groups along the pipeline route. Indigenous groups in Fort McMurray, Alta., say they still want to invest in the project and believe the ruling creates an opportunity for Prime Minister Justin Trudeau's government to get consultation right.
With the company using the proceeds from the Trans Mountain Pipeline sale to repay debt, its balance sheet has gone from a liability to an asset.
As a result, KMI currently expects to end the year at a Net Debt-to-Adjusted EBITDA ratio of approximately 4.6 times, and expects to have reduced its consolidated net debt by approximately $7.8 billion since the third quarter of 2015. “Today, we are revising our long-term leverage target from at or below 5.0 times to around 4.5 times, which is consistent with where we expect to end the year,” said KMI President Kim Dang. Kinder Morgan, Inc. (KMI) is one of the largest energy infrastructure companies in North America.
CALGARY, Sept. 4, 2018 /CNW/ - The Kinder Morgan Canada Limited (TSX:KML.TO - News) board today announced a series of decisions following the closing of the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP) to the Government of Canada. The KML board unanimously voted to distribute the net proceeds from the sale, after capital gains taxes, customary purchase price adjustments and repayment of KML debt, as a return of capital to shareholders. The return of capital to holders of KML's restricted voting shares is expected to be approximately $1.2 billion or approximately $11.40 per restricted voting share.
A recent court decision to nullify the approval of the Trans Mountain Pipeline expansion means the company made the right decision to hand over that project to the Canadian government.
Kinder Morgan's (KMI) subsidiary will take a final decision related to utilization of the after-tax net proceeds of the transaction on Sep 4, 2018, after market close.
The Federal Court of Appeal's decision to quash Ottawa's approval of the Trans Mountain pipeline expansion is likely to delay the project for years, legal and political observers say. The ruling means the National Energy Board must consider the impacts of increased tanker traffic on the marine environment and the federal government must consult more meaningfully with First Nations. The energy board should first conduct its new review, which will involve receiving written submissions, consulting with Indigenous groups and holding hearings, said Chris Tollefson, a law professor at the University of Victoria.
Alberta's finance minister says the court decision putting the Trans Mountain pipeline expansion in legal limbo won't affect the long-term plan to rid the province of red ink by 2024. Joe Ceci says the province is relying on revenues not just from the Trans Mountain expansion but other pipeline projects as well, such as the Line 3 expansion from Alberta to Wisconsin and the Keystone XL line to the U.S. Gulf Coast. "There are a number of assumptions, not just (Trans Mountain.) We have two other pipelines that are in play and will help us out in that path to balance," Ceci said Friday after announcing numbers for the first quarter of this year's budget.
CALGARY , Aug. 31, 2018 /CNW/ - Representatives of Kinder Morgan , Inc. (KMI), which owns an approximately 70 percent interest in Kinder Morgan Canada Limited (KML), intend to participate in investor meetings ...