Analyst explains Kinder Morgan "house of cards" in Gasparino interview

|About: Kinder Morgan, Inc. (KMI)|By:, SA News Editor

Hedgeye's Kevin Kaiser explains his "house of cards" view on the Kinder Morgan companies in an interview with Charlie Gasparino (video): "To me, 'house of cards' means something that has an unstable foundation, and when you need to raise more and more capital to continue to pay out higher and higher distributions... that’s a very unstable foundation."

Kaiser doesn't see anything illegal but thinks "there are some very misleading statements with some of the non-GAAP financials."

"The entire MLP sector is sort of a regulatory nightmare," he says, but the issues around Kinder Morgan "are more egregious than some of the others."

In today's trading: KMI -2.8%, KMP -1%, KMR -2%, EPB -0.9%.