Newest Hedgeye report on Kinder companies making little impact

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

Hedgeye's follow-up report on Kinder Morgan (KMI -0.1%) isn't moving shares this time around, unlike the firestorm generated three weeks ago when young Kevin Kaiser called the Kinder companies a "house of cards."

In today’s report rebutting Richard Kinder's rebuttal, Kaiser corrects some of the math in his first report but maintains the pipeline operator is "defending the indefensible” and can’t justify its maintenance capital spending policies.

The policy creates "an enormous wealth transfer" from Kinder Morgan Partners (KMP +0.3%) to KMI "that should not be taking place," Kaiser says, a "materially misleading" policy that results in KMI "taking hundreds of millions of dollars from KMP every year that it should not."

Also, KMR +0.2%, EPD +1.3%.