Liam Denning, Columnist

Finding a Cure for Kinder Morgan’s Frustration

A sale of the pipeline giant’s Canadian subsidiary would help investors finally focus on its growth story.

October 18, 2018 at 3:54 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Richard Kinder, chairman and chief executive officer of Kinder Morgan Inc.
Photographer: F. Carter Smith/Bloomberg via Getty Images

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Richard Kinder, the midstream maestro whose name is above the door of the Kinder Morgan Inc. pipelines empire, is irked:

He was speaking on Wednesday evening’s earnings call. Kinder Morgan had just reported decent results; the company hasn’t missed a consensus earnings forecast in five quarters, Bloomberg data show. It expects to beat full-year guidance, helped by a big increase in natural gas volume flowing through its network. Just over a month ago, it plucked victory from the jaws of defeat by selling its troubled Trans Mountain Pipeline to the Canadian government for about $3.5 billion.