Why the kinder morgan merger makes it one of the best stocks. May 17, 2017 kinder morgan s trans mountain ipo will be beneficial to kmi shareholders. Kinder morgan inc 4342 fm 2359 freer, tx pipe line. It looks like it wasnt worth waiting for the market to prove hedgeye right because, alas, when it comes to kinder morgan and todays huge bid, it never, ever will be. Is kinder morgan maintaining its stock prices instead of its assets. Ethics hotline the kinder morgan ethics hotline is a convenient and confidential way to seek assistance and report potential violations regarding ethics and compliance issues. Real vindication for investors, however, occurred earlier this week, when the stocks surged after the announcement of their proposed consolidation into a single entity. View all kmi assets, cash, debt, liabilities, shareholder equity and investments. The latter, for example, has failed to cover its distribution with distributable cash flow dcf for several quarters now, even leaving aside its extremely aggressive capital. The email, sent to clients of independent research firm hedgeye risk management, said kinder morgan and its associated companies is a house of cards, completely misunderstood and mispriced.
Former hedge fund manager and ceo keith mccullough has successfully navigated the dot com bust, great financial crisis and crash of 2020. Total capital, fair value 0 current fair value of kinder morgan inc. Sep 10, 20 is kinder morgan maintaining its stock prices instead of its assets. Its the largest independent transporter of petroleum products in north america, transporting 2. The market has suddenly come to appreciate many of the risks and issues with kinder morgan, inc. On jan 29, 2014 management gave a projection of kmis growth page 21 of this pdf. For the record, kinder morgan kmi has fallen another 7. To value the stock, use free cash flow as a proxy for what earnings. New shareholders may not be very happy, but thats not kmi shareholders burden. He also calls into question the safety of kinders pipelines. The call happened early this morning before the opening bell. Kmi that we have discussed for more than two years.
Based on the decline of kinder morgans stock price, and the causes of that. Sep 09, 20 the email, sent to clients of independent research firm hedgeye risk management, said kinder morgan and its associated companies is a house of cards, completely misunderstood and mispriced. The kinder morgan kmi, kmp, kmr, epb selfacquisition is the latest event that exemplifies the dramatic rise of the yieldco, fueled by unwitting investors that are desperate for any kind of yield, and the creative investment bankers and corporate. Kevin kaiser, a 26yearold analyst from hedgeye risk management. Overview of kinder morgan and generallimited partner structure. Kinder morgan kmi investor presentation slideshow nyse. Hedgeye details short case on kinder morgan barrons. Below is an excerpt from a note written last night by hedgeye energy analyst kevin kaiser to institutional subscribers. We chose to believe in rich kinder, and not in his critics, because we believed him when he always said his companies are companies run by shareholders for shareholders.
Richard kinder himself keeps most of his personal wealth in shares of kmi. Kinder morgan does not currently have any hardcopy. Energy giant kinder morgans ambitious goals cost communities big. The co 2 helps unlock and recover crude oil from mature oil fields and residual oil zones. Dec 11, 2014 one hedge fund, hedgeye, said kinder morgans highlevel business strategy is to starve its pipelines and related infrastructure of routine maintenance spending.
Kinder morgan files for trans mountain ipo, drops partnership. Sep 06, 20 the riskier but potentially more immediately rewarding tack is to consider what a loss of hedgeyes credibility in a frontal assault on kinder morgan might do for linn and its depressed unit price. Sep 10, 20 hedgeye risk management today released its written case against u. All four of the tickers hedgeye suggests shorting instead. The information contained herein is the property of hedgeye, which reserves all rights thereto. It has a worldclass management team and a portfolio of irreplaceable assets with monopolylike market positions. Sep, 20 similarly, i wondered why hedgeye had chosen to pick on kinder, rather than a master limited partnership mlp with more obvious troubles such as nustar energy nyse. Kinder morgan co 2 is the largest transporter of carbon dioxide in north america.
If you dont already have acrobat reader installed, click here. Nov 21, 2016 the following slide deck was published by kinder morgan, inc. Recently, kinder morgan has come under attack by kevin kaiser of hedgeye for. Kinder morgan is one of the largest midstream energy firm in north america with 70,000 miles of u. Basically, kaisers claims focus on how kinder morgan allocates capital. He also calls into question the safety of kinder s pipelines. Our pipelines transport natural gas, gasoline, crude oil, carbon dioxide co2 and more. Is kinder morgan maintaining its stock prices instead of. Is kinder morgan maintaining its stock prices instead of its.
Fundamental analysis data for kinder morgan inc kmi, including priceearnings ratios and earnings per share, at ally invest. Contractor environmental safety manual kinder morgan. Institute, the centers policy arm that promotes public policies related to free. In fact, kinder morgan energy partners lp kmpkmr pays its gp, owned by kinder morgan inc. Financial magazine barrons said, we struggle to understand how kmp can safely operate the largest portfolio of transmission and storage assets in the industry for just a. Get critical risk management tools and serious investable insights with hedgeye pro.
Hedgeyes analysts combined investment experience includes carlyle bluewave, millennium management, ardsley partners, buckingham research, morgan. Redistribution of any part of this information is prohibited without the express written consent of hedgeye. Kmi owns the idrs for kinder morgan partners kmp which we also own, and around 50% of. Kinder morgan has reached its limit for free report views. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. In south carolina, coal dust from kinder morgans terminal contaminates the bays oysters.
We own an interest in or operate approximately 84,000 miles of pipelines and approximately 180 terminals. Kinder morgan call after hedgeye report business insider. Jan 09, 2014 kinder morgan kmi is the largest pipeline company in the united states. Kmi fundamental charts book value per share fundamental charts the style scores are a complementary set of indicators. In the two days since, kinder morgans share price has rallied and then. Here energy analyst kevin kaiser first lays out his short thesis on kinder morgan kmi with. Hedgeye risk management senior energy analyst kevin kaiser speaks with hedgeye managing director todd jordan about his concerns regarding energy behemoth kinder morgan. A rupture of kinder morgan s trans mountain pipeline sprayed 200,000 litres of crude oil into a burnaby residential neighbourhood after being struck by a. Hedgeye risk management today released its written case against u. This article explains why this move was a master stroke that is likely to. Kinder morgan is the largest energy infrastructure company in north america. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information. Kinder morgan is a behemoth when it comes to energy infrastructure in north america.
When you subscribe to hedgeye risk manager youll receive 7 core hedgeye products in addition to our quarterly investment outlook and access to macro select which will give you an unparalleled edge on wall street consensus. Why a 26yearold analyst has managed to rattle wall street quartz. Kinder morgan deal ushers in a golden age of mlp investing. Hedgeye energy analyst kevin kaiser lays out short. Free access periodically to hedgeye products by joining our email marketing list you agree to receive marketing emails from hedgeye. Kmi stock news and headlines to help you in your trading and investing decisions. It bears noting that most of barys bearish arguments are from research firm hedgeye, which published a headlinegenerating slam piece on kmp last september. The company is active in the transportation, storage and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon. Just because linn has had two lousy quarters and some nitpicking from the sec doesnt mean it will never prosper again. The facts about kinder morgan catskill citizens for safe energy.
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