Money and Finance
Houston-based Kinder Morgan Inc. says the total purchase price of the three other companies is $71 billion, including $27 billion of assumed debt. The combined market value of the four companies was $92 billion as of the close of the market Friday. That would make it the fourth largest U.S. energy company after Exxon Mobil, Chevron and ConocoPhillips.
- Recent Buy - Kinder Morgan (kmi)
As I mentioned in my last update, this may be a slow month for me in terms of purchases. Not that I don't want to make more purchases, there are always opportunities out there that I'd like to take advantage of but I only have so much money. So...
- November Dividend Update
It's time to report on my November dividend income and I'm pleased to announce that this is a new record month for me! This months total was $239.56 which is a 4.9% increase over the $227.68 I earned last quarter. It was also a 19% improvement...
- Recent Buy - Kinder Morgan (kmi)
Today I purchased another 31 shares of Kinder Morgan (KMI) at $37.46 which now gives me a grand total of 93 shares. I would have loved to buy this at the prices we saw in April but KMI has been on a roll as the rest of the markets seem to have been. This...
- Recent Buy - Kinder Morgan Inc. (kmi)
It was a nice surprise when my boss gave us our bonus checks for the end of the year. I thought I'd put this money to work for me. So today I added to my position in Kinder Morgan Inc. (KMI). I purchased 31 shares at a price of $35.37 which gives...
- Recent Buy - Kinder Morgan Inc. (kmi)
Recently I initiated a new position in Kinder Morgan Inc. (KMI). I purchased 31 shares at a price of $35.40 which was $1097.40 total. There's been some weakness in the stock since July and it looked to be a good time to jump in at this point so I...
Money and Finance
Kinder Morgan to combine its companies
NEW YORK (AP) — The group of oil and gas pipeline and storage companies controlled by Kinder Morgan but traded separately will combine and become the 4th biggest U.S. energy company by market value.
The companies announced Sunday that Kinder Morgan Inc., Kinder Morgan Energy Partners, Kinder Morgan Management and El Paso Pipeline Partners will all combine under the Kinder Morgan Inc. umbrella and trade under the KMI ticker symbol.
Houston-based Kinder Morgan Inc. says the total purchase price of the three other companies is $71 billion, including $27 billion of assumed debt. The combined market value of the four companies was $92 billion as of the close of the market Friday. That would make it the fourth largest U.S. energy company after Exxon Mobil, Chevron and ConocoPhillips.
Source: Yahoo News
CEO Richard Kinder also stated the following ...
“All shareholders and unitholders of the Kinder Morgan family of companies will benefit as a result of this combination,” said Chairman and CEO Richard D. Kinder. “Everyone will hold a single, publicly traded security – KMI – which will have a projected dividend of $2.00 in 2015, a 16 percent increase over the anticipated 2014 dividend of $1.72. We expect to grow the dividend by approximately 10 percent each year from 2015 through 2020, with excess coverage anticipated to be greater than $2 billion over that same period. This combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140 billion. Additionally, we will have a leading position in each of our business segments and operate in the rapidly growing North American energy infrastructure sector"
I'm really not sure what to make of all of this, but I'm very happy to see the commitment to the dividend is still strong going forward. In the short term it'll be interesting to see how the market reacts to this tomorrow.
“All shareholders and unitholders of the Kinder Morgan family of companies will benefit as a result of this combination,” said Chairman and CEO Richard D. Kinder. “Everyone will hold a single, publicly traded security – KMI – which will have a projected dividend of $2.00 in 2015, a 16 percent increase over the anticipated 2014 dividend of $1.72. We expect to grow the dividend by approximately 10 percent each year from 2015 through 2020, with excess coverage anticipated to be greater than $2 billion over that same period. This combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140 billion. Additionally, we will have a leading position in each of our business segments and operate in the rapidly growing North American energy infrastructure sector"
I'm really not sure what to make of all of this, but I'm very happy to see the commitment to the dividend is still strong going forward. In the short term it'll be interesting to see how the market reacts to this tomorrow.
- Recent Buy - Kinder Morgan (kmi)
As I mentioned in my last update, this may be a slow month for me in terms of purchases. Not that I don't want to make more purchases, there are always opportunities out there that I'd like to take advantage of but I only have so much money. So...
- November Dividend Update
It's time to report on my November dividend income and I'm pleased to announce that this is a new record month for me! This months total was $239.56 which is a 4.9% increase over the $227.68 I earned last quarter. It was also a 19% improvement...
- Recent Buy - Kinder Morgan (kmi)
Today I purchased another 31 shares of Kinder Morgan (KMI) at $37.46 which now gives me a grand total of 93 shares. I would have loved to buy this at the prices we saw in April but KMI has been on a roll as the rest of the markets seem to have been. This...
- Recent Buy - Kinder Morgan Inc. (kmi)
It was a nice surprise when my boss gave us our bonus checks for the end of the year. I thought I'd put this money to work for me. So today I added to my position in Kinder Morgan Inc. (KMI). I purchased 31 shares at a price of $35.37 which gives...
- Recent Buy - Kinder Morgan Inc. (kmi)
Recently I initiated a new position in Kinder Morgan Inc. (KMI). I purchased 31 shares at a price of $35.40 which was $1097.40 total. There's been some weakness in the stock since July and it looked to be a good time to jump in at this point so I...