The Kinder companies continue to report solid results - Kinder Morgan Partners' (KMP) profit more than doubled in 2013, and controlling partner Kinder Morgan Inc. (KMI) enjoyed a six-fold increase in net income - but their stock prices have underperformed, Richard Kinder lamented earlier while discussing earnings.
Naysayers point to KMP/KMI's size, claiming it’s too big to meaningfully grow any more, either by acquisition or through new projects of its own; Rich Kinder says he's been hearing that for years, but the company keeps expanding.
Nevertheless, recently issued 2014 guidance that projected profits to grow more modestly disappointed some analysts.
"We proved the doubters wrong [before]," said a somewhat defiant Kinder. “You sell. I’ll buy. And we see who comes out best in the long run.”