Stock Research and Analysis

by Peggy Connerty

Bulls Say

With the consolidation in the rear-view mirror, Kinder Morgan is starting a new chapter as the largest midstream firm in North America.
We agree with management's expectations of 10% dividend growth through 2020, providing a solid outlook for both income and growth.
Kinder Morgan is poised to be a consolidator, and Chairman Rich Kinder has already signaled his intent to hunt for accretive acquisitions. Over time this will help propel Kinder's growth. Read more 

Bears Say

With lower oil prices, there's a new headwind facing project development. It may become harder to keep project backlogs full, threatening longer-term organic growth.
The TransMountain expansion is meeting with increasing opposition. Pipeline politics are playing out, moving the project from a sure thing to a maybe, pushing out likely in-service dates, and driving up project costs.
KMI will likely need to raise equity to fund growth, with management saying it is committed to investment-grade metrics. KMI has a long history of access to capital markets, even in times of market stress. Read more 

Management

We think Rich Kinder is the rarest kind of visionary and is widely credited for having started the MLP industry. Not only did he see the potential for a hard assets business within Enron's asset-light culture, but he has a focus on execution that has   Read more 

Profile

Kinder Morgan is the largest midstream energy firm in North America, with more than 80,000 miles of pipeline and 180 terminals. The company is active in the transportation,  Read more 

Friday Five: A Few Wrinkles in the Kinder Deal 
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