Kinder Morgan Inc (KMI)

[eFinanceMarkets]

$KMI Kinder Morgan (NYSE:KMI) +0.4% after Q4 earnings topped expectations, and it continues to expect to increase its dividend to $0.80/share for FY 2018 after approving a $0.125 dividend for the quarter.

KMI actually posted a Q4 loss of $1.4B, attributed to a one-time tax hit from the new federal tax overhaul; without the initial tax payment, the company earned a profit of nearly $400M.

KIM says its 2018 budget is planned to achieve distributable cash flow of ~$4.57B ($2.05/share) and adjusted EBITDA of ~$7.5B, with $2.2B invested in growth projects to be funded with internally generated cash flow without the need to access equity markets; it expects to end the year with a net debt to adjusted EBITDA ratio of 5.1x.

Also, Kinder Morgan Canada says start-up of the Trans Mountain oil pipeline expansion will be delayed by another three months to December 2020, a year past its original target date.

Now read: The Kinder (Morgan) Surprise: The 'Toy' Is An Arbitrage »