Kinder Morgan Announces Conference Call to Discuss Strategic Venture

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Go back to Kinder Morgan Announces Conference Call to Discuss Strategic Venture

Mizuho Securities Remains Sidelined on Southern Co. (SO) Following Announced 50% stake in the Southern Natural Gas Pipeline

July 11, 2016 9:49 AM EDT

Mizuho Securities maintained a Neutral rating and $50.00 price target on Southern Co. (NYSE: SO) following the company's announcement that it will buy a 50% stake in the Southern Natural Gas pipeline system from Kinder Morgan (KMI). KMI indicated the deal was struck at an EV/EBITDA multiple of 10.4x... More

Southern Co. (SO) to Acquire 50% Stake in Southern Natural; Implies EV of $4.15B (KMI)

July 11, 2016 6:55 AM EDT

Southern Company (NYSE: SO) and Kinder Morgan, Inc. (NYSE: KMI) announced a natural gas pipeline venture designed to advance both companies' leadership in energy infrastructure development through Southern Company's acquisition of a 50 percent equity interest in the Southern Natural Gas (SNG) pipeline system. Kinder Morgan will continue to operate the system. In addition, the agreement commits the companies to cooperatively pursue specific growth opportunities to develop natural gas infrastructure for the strategic venture.

SNG is a 7,600-mile pipeline system connecting natural gas supply basins in Texas, Louisiana,... More