Kinder Morgan Gets It Done – Kinder Morgan, Inc. (NYSE:KMI)

Midstream energy giant Kinder Morgan (KMI) has been working on a ‘turnaround’ of its business since late 2015. That turnaround meant improving the dividend coverage ratio and reducing leverage. Since late 2015, Kinder Morgan has worked diligently to reduce its debt from over 6 times EBITDA to just under 5 times EBITDA as of its latest earnings conference this week.

On Wednesday Kinder Morgan gave its second quarter 2018 results, and for the first time since embarking on this ‘turnaround,’ Kinder Morgan achieved a leverage ratio just under 5.0 times at 4.9 times EBITDA. In addition to solid quarterly results driven by the ongoing ‘energy revolution’ in North America, Kinder Morgan also completed the sale of the Trans Mountain Pipeline to the Canadian government. The proceeds of that transaction will be further used to reduce leverage. This article takes a look at Kinder Morgan’s latest quarterly results, its ongoing deleveraging effort, and what income investors can expect going…

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