KMI says it continues to expect to pay $0.50/share in dividends for the full year and achieve distributable cash flow of ~$4.46B ($1.99/share); for the quarter, distributable cash flow totaled $0.54/share, down from $0.55 in the year-ago quarter and up from $0.51 Q/Q.
KMI also expects to invest $3.2B in growth projects during 2017, to be funded with internally generated cash flow without the need to access equity markets, and to end the year with a net debt to adjusted EBITDA ratio of ~5.4x.
Q1 natural gas sales jumped 10% to 2.6T Btus, while crude oil and condensate gathering volumes - a smaller part of KMI’s business - fell 18% to 272K bbl/day.
KMI says its current project backlog is $11.7B, down from $12B at the end of 2016.
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