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Thursday, July 20, 2017 4:57:16 PM
Kinder Morgan (KMI +4.6%) marches higher after unveiling plans to significantly raise its dividend and buy back shares.
The dividend increase came as KMI reported Q2 profits of $337M, up a bit from $333M in the year-ago period, and distributable cash flow of $1.02B was off slightly from $1.05B in Q2 2016, driven by lower contributions from Southern Natural Gas as a result of last year's 50% sale of the pipeline.
Jeffries' Chris Sighinolfi - who rates the stock Neutral with a $20 price target - raises questions about the buyback, saying "KMI has no formal cadence of anticipated repurchase activity, no established target price for the buybacks, and will not be 'mechanically buying' at the market."
The analyst says he is "confused about the relative attractiveness of repurchasing stock at ~11-12x EBITDA vs. investing in incremental organic expansions at ~6.9x, the stated average capital-to-EBITDA multiple of KMI’s backlog."
Recent KMI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 10:16:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/13/2024 08:07:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 09:43:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:25:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:23:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:23:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:22:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:22:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:21:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/01/2024 08:24:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 08:10:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/25/2024 10:21:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/25/2024 08:03:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/24/2024 08:18:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 09:52:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 09:51:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 09:50:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 09:49:18 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 07/22/2024 08:39:42 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/19/2024 08:07:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 09:46:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 09:46:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 09:45:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 09:44:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 09:42:23 PM
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