Kinder Morgan Raises 2013 Estimate - Analyst Blog
14 5월 2013 - 7:10PM
Zacks
Kinder Morgan Inc.
(KMI), the parent company of pipeline operator Kinder
Morgan Energy Partners LP (KMP), has raised its 2013
projections for itself and the latter.
The increase is based on the
contributions anticipated from the purchase of Copano Energy that
closed on May 1. KMI now proposes to declare dividends of $1.60 per
share in 2013, an increase of nearly 2% from its published annual
budget of $1.57 per share and 14% from its 2012 declared
distribution of $1.40 per share.
KMP too intends to announce cash distributions of $5.33 per unit
compared with its 2013 published annual budget of $5.28 per unit
and up 7% from its 2012 declared distribution of $4.98 per
unit.
The Copano acquisition will facilitate Kinder Morgan to pursue
development activities in the prolific Eagle Ford Shale areas of
South Texas. It will mark Kinder Morgan’s entry into the Barnett
Shale Combo in north Texas as well as the Mississippi Lime and
Woodford shales in Okla.
The recent purchase will also help in augmenting Kinder Morgan’s
midstream services’ footprint, which will benefit KMI shareholders
and KMP unitholders. As a result of added cost savings the
incremental impact from Copano is likely to be somewhat higher than
the preliminary estimates at the time the transaction was
announced.
Kinder Morgan – the largest midstream and the third largest energy
company in North America – has a combined enterprise value of about
$115 billion. It owns or operates more than 80,000 miles of
pipelines and around 180 terminals. The pipelines carry natural
gas, gasoline, crude oil, CO2 and other products, while the
terminals store petroleum products and chemicals and handle
products such as ethanol, coal, petroleum coke and steel.
Both Kinder Morgan Energy Partners LP and Kinder Morgan Inc. carry
a Zacks Rank #3 (Hold). However, there are other Zacks Rank #1
(Strong Buy) stocks – Dawson Geophysical Company
(DWSN) and SM Energy Company (SM) – which are
expected to perform better over the next few months.
DAWSON GEOPHYS (DWSN): Free Stock Analysis Report
KINDER MORGAN (KMI): Free Stock Analysis Report
KINDER MORG ENG (KMP): Free Stock Analysis Report
SM ENERGY CO (SM): Free Stock Analysis Report
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