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Last $32.41 USD
Change Today -0.22 / -0.67%
Volume 19.1M
KMI On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

kinder morgan inc (KMI) Key Developments

Spectra And Others Reportedly Plan Bidding For Williams Companies

Spectra Energy Corp. (NYSE:SE) is bidding to acquire whole of Williams Companies, Inc. (NYSE:WMB), people familiar with the matter said. Williams decided to put itself on the auction block after it rejected an all-stock acquisition proposal from Energy Transfer Equity, L.P. (NYSE:ETE) in June, 2015. Kinder Morgan, Inc. (NYSE:KMI) is also interested in acquiring Williams, but would face potential antitrust issues if it proceeded with a bid, the people added. Williams collected an initial round from prospective bidders in late July 2014, according to the people. Final bids for Williams are due the last week of August, 2015, the people said. Energy Transfer has hired at least eight investment banks that are now working on its bid, the people said. Williams has a market capitalization of around $38.5 billion. Wells Fargo is advising Spectra, the people said.

Kinder Morgan, Inc. Continues to Expand Its Growing Product Tanker Fleet for Jones Act Trade

Kinder Morgan, Inc. announced that it is expanding its growing fleet of Jones Act product tankers and has signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four, new 50,000-deadweight-ton, Tier II tankers to be constructed at the Aker Philadelphia Shipyard in Philadelphia, Pennsylvania. The transaction requires approval of shareholders holding 80% of the shares of Philly Tankers AS. Philly Tankers AS is the parent of Philly Tankers LLC. Shareholders accounting for over 85% of Philly Tankers AS' outstanding shares have already entered into irrevocable voting undertakings approving the transaction. Each LNG-conversion-ready tanker will have a capacity of 337,000 barrels. The vessels will be delivered to Kinder Morgan between November 2016 and November 2017 and placed in United States domestic service, commonly referred to as the Jones Act trade. The first two that are scheduled for delivery, in late 2016 and early 2017, are under long-term contract to a creditworthy oil company. Contract discussions for the two tankers to be delivered by late 2017 are ongoing with other creditworthy counterparties, and executed contracts are expected to be completed by early 2016. Approximately 10% of each vessel's all-in price will be paid upon construction start, with the pro-rata balance due upon each ship's delivery. These four new vessels will increase Kinder Morgan's Jones Act tanker fleet to 16 ships by late 2017, of which 14 are under long-term contracts with strong, creditworthy counterparties.

Kinder Morgan, Inc. Presents at Goldman Sachs Power, Utilities, MLP and Pipeline Conference, Aug-11-2015 09:45 AM

Kinder Morgan, Inc. Presents at Goldman Sachs Power, Utilities, MLP and Pipeline Conference, Aug-11-2015 09:45 AM. Venue: The Conrad New York, 102 North End Ave., New York, NY 10282, United States.

Kinder Morgan Set on Canada Pipeline Project

Kinder Morgan continued to pursue the planned expansion of its 1,150 kilometre Trans Mountain oil pipeline from Edmonton, Alberta, to the Pacific coast near Vancouver. Kinder Morgan has proposed to increase the system's capacity from 300,000 bbl/day to almost 900,000 bbl/day. But the company, which filed for approval with Canadian regulators back in 2013, keeps facing resistance from communities in the Vancouver area.

Kinder Morgan, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Kinder Morgan, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $3,463 million against $3,937 million a year ago. Operating income was $892 million against $1,013 million a year ago. Income before income taxes was $531 million against $675 million a year ago. Net income attributable to the company $333 million against $284 million a year ago. Basic and diluted Earnings per class P common share were $0.15 against $0.27 a year ago. EBITDA was $1,773 million against $1,751 million a year ago. For the six months, the company reported revenues of $7,060 million against $7,984 million a year ago. Operating income was $1,970 million against $2,160 million a year ago. Income before income taxes was $1,174 million against $1,476 million a year ago. Net income attributable to the company $762 million against $571 million a year ago. Basic and diluted Earnings per class P common share were $0.35 against $0.55 a year ago. EBITDA was $3,622 million against $3,617 million a year ago.

 

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Company Last Change
Anadarko Petroleum Corp $71.58 USD +0.64
Devon Energy Corp $42.66 USD +0.46
Dominion Resources Inc/VA $69.75 USD -1.28
Enterprise Products Partners LP $28.11 USD -0.51
Williams Cos Inc/The $48.20 USD -0.72
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Industry Analysis

KMI

Industry Average

Valuation KMI Industry Range
Price/Earnings 46.2x
Price/Sales 4.6x
Price/Book 2.0x
Price/Cash Flow 19.9x
TEV/Sales 1.7x
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