RBC Capital Downgrades Kinder Morgan (KMI) to Sector Perform
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Kinder Morgan (KMI) Dividend Cut Creates Opportunity to Buy High-Quality Names - Jefferies
December 9, 2015 10:21 AM ESTJefferies analyst, Christopher Sighinolfi, commented on Kinder Morgan (NYSE: KMI) revised capital plan before this morning's call. Yesterday, KMI cut its dividend 75% to 12.5¢/sh at the time it announced its capital outlook.
The overall 2016 capital plan:
1) 75% cut in its quarterly dividend to 12.5¢/sh, from 51¢/sh
2) net debt/ EBITDA ratio of ~5.5x for 2016
3) DCF of slightly over... More
Kinder Morgan's (KMI) Price Target Trimmed at Deutsche Bank, Buy Rating Maintained
December 9, 2015 9:52 AM ESTDeutsche Bank maintained a Buy rating on Kinder Morgan (NYSE: KMI) and lowered its price target to $19.00 (from $28.00). The change follows news Kinder Morgan plans to cut its dividend by 75%.
Commenting on developments, analyst Kristina Kazarian said, "This cut gives KMI coverage of 4.6x, allowing it to divert $3.9b/yr of cash flow from... More
Kinder Morgan (KMI) Expects to Pay $0.50 Annual Dividend in 2016, Down From Over $2.00
December 8, 2015 4:31 PM ESTKinder Morgan, Inc. (NYSE: KMI) announced that its Board of Directors has approved a plan pursuant to which it expects to pay quarterly dividends of $.125 per share to its common stockholders ($.50 annually), down from its current quarterly level of $.51, beginning with the fourth quarter 2015 dividend payable in February 2016. This dividend enables the company to use a significant portion of its large cash flow to fund the equity portion of its expansion capital requirements, eliminate any need to access the equity market for the foreseeable future and maintain a solid investment grade credit rating. KMI anticipates... More
