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Kinder Morgan Announces 2014 Financial Expectations

Stocks in this article: EPBKMIKMPKMR

Kinder Morgan today announced its preliminary 2014 projections for Kinder Morgan, Inc. (NYSE: KMI), Kinder Morgan Energy Partners, L.P. (NYSE: KMP), Kinder Morgan Management, LLC (NYSE: KMR) and El Paso Pipeline Partners, L.P. (NYSE: EPB). Chairman and CEO Richard D. Kinder stated, “We anticipate strong growth in 2014 across the Kinder Morgan family of companies. We currently have identified approximately $14.4 billion in expansion and joint venture investments that we are confident will contribute to our growth, and we are pursuing customer commitments for many more projects.” Kinder Morgan owns and operates a large, diversified portfolio of primarily fee-based energy assets across North America that historically have produced substantial cash flow in virtually all types of market conditions.

KMI expects to declare dividends of $1.72 per share for 2014. This represents an approximate 10 percent increase over KMI’s 2013 budget target of $1.57 per share and an approximate 8 percent increase over the $1.60 per share of dividends it expects to declare for 2013. Growth at KMI in 2014 is expected to be driven by continued strong performance at KMP and contributions from EPB. The growth at KMI from KMP and EPB will be partially offset by the loss of income from the 2013 and expected 2014 sales (dropdowns) of certain assets to KMP and EPB. Subject to appropriate board approvals, KMI expects to drop down its 50 percent interest in Ruby Pipeline, its 50 percent interest in Gulf LNG and its 47.5 percent interest in Young Gas Storage to EPB during 2014.

KMP expects to declare cash distributions of $5.58 per unit for 2014, an approximate 6 percent increase over its 2013 budget target of $5.28 per unit and an approximate 5 percent increase above its current expectation of $5.33. (KMR also expects to declare distributions of $5.58 per share for 2014 and the distribution to KMR shareholders will be paid in the form of additional KMR shares.)

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