This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Kinder Morgan Expects To Meet Or Exceed 2014 Financial Expectations

Kinder Morgan today reconfirmed its 2014 financial dividend and distribution guidance 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), and at KMP expects to generate distributable cash flow per unit nicely in excess of its budget targets.

Chairman and CEO Richard D. Kinder stated, “2014 is off to a great start and the future outlook for the Kinder Morgan companies remains very bright. We have identified approximately $14.8 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. Since our 2014 budget was announced in early December of 2013, KMP has completed an approximately $962 million acquisition of crude oil tankers that are engaged in marine transportation for U.S. domestic trade through the Jones Act, and Tennessee Gas Pipeline completed a successful binding open season for incremental, north to south natural gas transportation capacity totaling 500,000 dekatherms per day, which will move gas from the Marcellus and Utica shales to multiple delivery points on the Gulf Coast.”

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.

As previously announced, KMI expects to declare dividends of $1.72 per share for 2014. This represents an 8 percent increase over its 2013 declared dividend of $1.60 per share. Growth at KMI in 2014 is expected to be driven by continued strong performance at KMP and contributions from EPB.

KMP expects to declare cash distributions of $5.58 per unit for 2014, a 5 percent increase over its 2013 distribution of $5.33 per unit. KMP expects to exceed its distributable cash flow per unit target primarily as a result of the positive impact of the previously noted tanker acquisition, TGP’s incremental north to south firm transportation contracts, which are expected to begin service in April 2014, and additional long-term contracts on its El Paso Natural Gas pipeline system. “We continue to see exceptional growth opportunities across all of KMP’s business segments, including the need for more midstream infrastructure to move and store oil, gas and liquids from the prolific shale plays in the United States and the oilsands in Alberta, along with increasing demand for CO 2. In particular, there seems to be strong and growing demand for secure, long-term natural gas transportation capacity,” Kinder said.

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs