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KMP
Kinder Morgan Energy Partners L.P - NYSE

4/24/2014, 11:47 AM ET
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  • Growth And Total Return Outlook For Kinder Morgan Energy Partners
    MLPData Mon, Apr. 21 12 Comments

    Summary

    • Kinder Morgan Energy Partners LP owns and operates tremendous energy infrastructure assets.
    • The asset growth is overshadowed by the progressive impact of their Incentive Distributions Rights.
    • Present Valuation suggests management will not beat their conservative mid digit growth estimates which indicate a 3 year period total return of 33.5%.
    • A moderately higher sustainable growth rate from a reversal to contango, acquisition, or a rapid change in Export approvals could provide a 3 yr total return of up to 54%.
  • Kinder Morgan Energy Partners Easily Beats Expectations
    Albert Alfonso Mon, Apr. 21 34 Comments

    Summary

    • Kinder Morgan Energy Partners sees its DCF increase 26% to $693 million.
    • The coverage ratio has been trading higher, with improvements seen in every quarter, even with regular distribution increases.
    • Kinder Morgan Energy Partners may need to increase its 2014 guidance for DCF, thanks to improved volumes from the Marcellus and increased natural gas exports to Mexico.
  • Kinder Morgan Energy Partners: Why Not Consider This Outstanding Wealth Building Machine?
    Achilles Research Fri, Apr. 18 47 Comments

    Summary

    • Income investors should not look at MLP earnings, but rather cash flow.
    • Kinder Morgan Energy Partners presented respectable y-o-y distributable cash flow growth.
    • KMP remains a top long-term wealth building vehicle benefiting from both organic growth and acquisitions.
  • Kinder Morgan Inc.: A Return To Dividend Growth
    Albert Alfonso Thu, Apr. 17 20 Comments

    Summary

    • Kinder Morgan posts its best dividend coverage ratio since 2012.
    • Guidance for the year is unchanged, with a projected dividend growth rate of 8%.
    • Quarterly dividend was increased by a penny to $0.42.
    • At current prices, Kinder Morgan yield 5.0%.
  • Kinder Morgan Energy Partners: Enjoy Continued Growth
    Seeking Profits Thu, Apr. 17 20 Comments

    Summary

    • KMP increased its distribution by $0.02 from last quarter.
    • DCF per unit came in a robust $1.55 thanks to strong natural gas transportation.
    • With a $14.9 billion backlog, KMP has room to grow its distribution for years.
  • Kinder Morgan Energy Partners: Do Not, Ever, Underestimate The Distribution Yield
    Achilles Research Tue, Apr. 15 51 Comments

    Summary

    • Kinder Morgan Energy Partners' distribution yield accounts for 70% or more of returns that investors can reasonably expect from equities in the long-run.
    • Kinder Morgan Energy Partners investment valuable in times of market volatility.
    • Pipeline company gives extraordinary exposure to business and distribution growth.
  • The Kinder Morgan Conundrums--Part I
    Arthur Paullin Mon, Apr. 14 104 Comments

    Summary

    • Most investors believe KMP's IDR with KMI are responsible for KMP not keeping pace with the market. If true what can be done about it?
    • Many investors, confused by the differences between Limited Partnerships and Limited Liability Companies, arrive at solutions to KM problems that are unattainable and make poor investment decisions.
    • KMR was organized for a very specific purpose but another valuable benefit came out of it.
  • Kinder Morgan Partners Capitalizing On Increased Demand For Midstream Services
    Balanced Investing Sun, Apr. 13 44 Comments

    Summary

    • The construction of the Lobos Pipeline will help the company to meet the growing demand of CO2 and enable the Permian producers to improve oil production.
    • KMCC (Crude and Condensate) pipeline is well positioned to maximize on the benefits from the Eagle Ford shale by expanding the pipeline.
    • The conversion of the Tennessee pipeline project is on track to transport NGLs from the Marcellus and Utica shales to the Gulf Coast.
    • KMP has identified several opportunities to expand the already huge network of pipelines and has allocated investment proceeds of about $13.5 billion.
  • Is Kinder Morgan Too Large To Restructure?
    Albert Alfonso Fri, Apr. 11 41 Comments

    Summary

    • A recent report from Credit Suisse suggested that Kinder Morgan Energy Partners should buyout or merge with its General Partner Kinder Morgan Inc.
    • The rationale behind this move is to eliminate IDR payments, which increase the partnership’s cost of capital and has held down its valuation.
    • However, any such transaction would be extremely expensive and would dilute current unitholders.
    • In addition, there would be complications resulting from Kinder Morgan Inc’s various holdings, including its stake in El Paso and other legacy assets.
  • Kinder Morgan Energy Partners: I Will Not Stop Buying
    Achilles Research Wed, Apr. 9 60 Comments

    Summary

    • Kinder Morgan Energy Partners is a first-class income vehicle.
    • The recent consolidation offers an attractive entry point for long-term investors.
    • Entry- and peer group leading yield of over 7% makes this MLP a Strong BUY.
  • Kinder Morgan: A Merger Is Very Much A Possibility
    Albert Alfonso Mon, Apr. 7 62 Comments

    Summary

    • Unlike what is suggested in a recent SA article, Kinder Morgan Energy Partners may very well merge with its in general partner.
    • When asked a few months ago about a possible merger, Kinder Morgan specifically did not reject the notion of a merger.
    • Instead, the company noted that it would consider its options if returns become lackluster.
    • While any such merger would be expensive, it would also allow the company to trade more inline with its sector peers.
  • A Kinder Morgan Merger Is Not Feasible
    Seeking Profits Mon, Apr. 7 42 Comments

    Summary

    • Credit Suisse suggests there could be a way to merge KMI and KMP to benefit all holders.
    • KMP could offer KMI a 44-47% stake for its IDRs, which is worth up to $27 billion.
    • Any deal that works for KMP would be at a discount to KMI's enterprise value, making it financially impractical.
  • Kinder Morgan: Is It Time For A Merger?
    Albert Alfonso Fri, Apr. 4 89 Comments

    Summary

    • A Credit Suisse analyst recently came out with a note suggesting that Kinder Morgan Energy Partners and Kinder Morgan Inc should reorganize their corporate structure in order to eliminate IDR.
    • Depending on the method used, this move would greatly simplify the overall structure of Kinder Morgan as well as remove the IDR payment overhang.
    • However, any such transaction may result in the issuing of large amounts of Kinder Morgan Energy Partner units and may come under pressure from shareholders of both companies.
  • Kinder Morgan: Who Said That The Growth Story Is Dead?
    Albert Alfonso Mon, Mar. 31 36 Comments

    Summary

    • Kinder Morgan Energy Partners announces plans to build a 213-mile, 16-inch diameter CO2 pipeline.
    • The pipeline will serve to support current and future EOR projects owned by Kinder Morgan and other operators in the Permian Basin.
    • Total costs are expected to be around $1.0 billion, of which $300 million are for the pipeline and $700 million is for the drilling of wells and other infrastructure.
    • Kinder Morgan has recently reaffirmed its financial expectations for 2014.
    • However, a recent Bloomberg article cast doubts on MLPs as growth vehicles.
  • Has The Market Priced Too Much Risk Into Kinder Morgan Energy Partners?
    MLPData Fri, Mar. 28 43 Comments

    Summary

    • Bad news and slower growth prospects have pushed KMP's yield up to 7.4%.
    • Compared to peer MLP yield and growth rates, KMP is 10% to 15% undervalued.
    • The lower KMP unit price can affect the net cash flow results of new capex products due to a higher number of shares sold to raise capital.
  • Kinder Morgan: An Undervalued Stock With High Growth Potential
    Gemstone Equity Research Tue, Mar. 25 37 Comments

    Summary

    • Kinder Morgan Energy Partners LP recently reassured investors that it would reach or possibly go beyond its FY 2014 financial expectations.
    • The company’s strategic moves will aid in taking advantage of the solid tailwinds from an enduring boom in domestic oil and gas production.
    • Despite its future prospects, the stock is currently undervalued with a P/E ratio of 19.54 times compared to the industry average of 22.46 times.
  • Kinder Morgan: Bloomberg Is Too Bearish On MLPs
    Seeking Profits Mon, Mar. 17 62 Comments

    Summary

    • Bloomberg has issued a negative report on MLPs, highlighting concerns of a bubble.
    • High retail ownership is not necessarily problematic.
    • MLPs will profit from growing US production and have sustainable distributions.
    • With a solid distribution, KMP is a buy at current levels.
  • Ukraine Tensions Make This Megatrend Company Stronger
    Efficient Alpha Mon, Mar. 17 22 Comments

    Summary

    • Infrastructure for energy transportation has lagged production leading to transport through the more costly rail option and driving demand for pipeline growth for years to come.
    • A tax-advantaged structure for MLPs and their investors helps drive higher returns for the assets than can be achieved by traditional c-corporations.
    • Tension with Russia may expedite licenses for natural gas exports, opening another opportunity for revenue in the industry.
  • Kinder Morgan: Some Good News And Some Bad News
    Albert Alfonso Mon, Mar. 17 89 Comments

    Summary

    • The Kinder Morgan group sees its FV estimates lowered by Morningstar.
    • However, Kinder Morgan also reaffirmed its distribution and dividend guidance for 2014 for all its various companies.
    • Despite the recent turmoil, the stock remains a long-term buy.
  • Kinder Morgan Energy Partners: Buying When Others Are Fearful?
    Achilles Research Fri, Mar. 14 59 Comments

    Summary

    • Kinder Morgan Energy Partners makes an attractive, long-term value proposition.
    • A Kinder Morgan investment delivers both value and growth.
    • Recent pullback is an interesting opportunity for long-term income investors.
KMP vs. ETF Alternatives
Company Description

Kinder Morgan Energy Partners, L.P. is a pipeline transportation and energy storage company in North America, which owns and manages a portfolio of energy transportation and storage assets.