Kinder Morgan (KMI) reported record third-quarter net income attributable to KMI of $764 million, up 22% from $628 million a year earlier, while EPS and Adjusted EPS both rose 21%. Adjusted EBITDA reached $2.18 billion, up 9%. The expansion project backlog grew to $14.4 billion, including a record $13.2 billion natural gas backlog featuring the Southeast Connector (SNG) and Permian Link (NGPL), each designed to move over 2.5 billion cubic feet per day. Cash flow from operations was $5 billion, free cash flow after capital expenditures and dividends was $230 million, and the Net Debt-to-Adjusted EBITDA ratio stood at 3.5 times. The board approved a quarterly dividend of $0.2975 per share, a 2% increase over the third quarter of 2025.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on brantfordexpositor.ca ↗
Keywords
Kinder Morganearningsnatural gasdividends
Open a keyword to see other news on the same topic.
Related news
- Kinder Morgan Reports Record Third Quarter 2026 Financial Results
Kinder Morgan declared a third-quarter cash dividend of $0.2975 per share ($1.19 annualized), payable November 16, 2026, a 2% increase over the third quarter of 2025. The company reported net income attributable to KMI of $764 million, up from $628 million a year earlier, and Adjusted EBITDA of $2.18 billion, up 9%. EPS and Adjusted EPS were $0.34 and $0.35, both up 21% year over year. Its expansion project backlog rose $4.7 billion from the second quarter to $14.4 billion, including a record $13.2 billion natural gas portion that adds the Southeast Connector and Permian Link pipeline projects. Net debt to Adjusted EBITDA was 3.5 times, at the low end of its target range.
- SpaceX Wants a 32-Mile Pipeline Tied Into Energy Transfer's and Kinder Morgan's Florida System. Does It Matter for Either Pipeline Stock?
On Oct. 6, the Florida Public Service Commission approved a transportation tariff for SpaceX subsidiary Coastal Connect Services to build a 32-mile pipeline in Brevard County linking to the Florida Gas Transmission Network, a roughly 5,300-mile system jointly owned by Kinder Morgan and Energy Transfer. The line will supply natural gas for Starship launches at Cape Canaveral, replacing hundreds of LNG truck deliveries, and SpaceX will build and own it. The article calls the deal small for both companies, which need only provide interconnection and offtake rather than fund construction. Energy Transfer transports about 30% of U.S. natural gas and Kinder Morgan about 40%, roughly 70% combined. Kinder Morgan yields around 3.5% and Energy Transfer around 6.8%, though Energy Transfer's MLP structure receives different tax treatment.
- Kinder Morgan Reports Record Third Quarter 2026 Financial Results
Kinder Morgan (NYSE: KMI) reported record third-quarter 2026 results, with net income attributable to KMI of $764 million, up from $628 million a year earlier, and Adjusted EBITDA of $2.18 billion, up 9%. EPS of $0.34 and Adjusted EPS of $0.35 were each up 21% year over year. The company added $5.4 billion to its expansion project backlog, which reached $14.4 billion, including $13.2 billion of natural gas projects, the largest in its history. Its board approved a quarterly dividend of $0.2975 per share, payable November 16, 2026, a 2% increase over the third quarter of 2025. Management attributed the growth to rising LNG exports, higher power demand and industrial expansion.
- Enterprise Products (EPD) Lifted Its Distribution 2.8%. Is the Stock Still Cheap?
Enterprise Products Partners (EPD) closed at $36.82 on October 16 and returned -0.2% over six months. It declared a quarterly distribution of $0.56 per unit on October 8, or $2.24 a year, 2.8% above the same quarter last year. The company owns pipelines, storage and export terminals, earning mostly fees, with debt at 109.97% of equity. The article attributes its low valuation, with a 6.08% yield and 11.89 times expected next-year earnings, to a narrow investor base, since its K-1 tax form deters many professional investors, rather than to weak assets. It also notes sector risks tied to oil and gas production volumes and foreign demand for exports.
- Here's How Many Shares of Enterprise Products Partners (EPD) You'd Need for $2,000 a Year in Dividend Income
Enterprise Products Partners (EPD), a master limited partnership that owns oil and gas pipelines, offers a 6.1% forward dividend yield and has raised its distribution for 28 consecutive years. It currently pays $0.56 per unit quarterly, or about $2.24 annually, so roughly 893 units are needed to earn $2,000 a year; at $36.69 per unit, that position would be worth $32,764. The distribution has grown about 4% a year over five years, 3.6% over 10 years and 4.8% over 20 years. The MLP pays out less than 60% of its distributable cash flow (DCF), with a 1.7x coverage ratio, while competing pipeline stocks pay 65% and sometimes more than 70%, and its DCF has nearly quadrupled over 20 years, through the financial crisis, the oil price collapse and COVID-19.
- Targa (TRGP) Borrowed Five Times Its Equity and the Stock Nearly Doubled
Targa Resources (NYSE:TRGP) carries debt equal to 515.79% of its equity, more than almost anything in midstream, yet its stock closed at $294.90 on October 16, returned 27.4% over the last 6 months and rose 95.38% over the past year. The company gathers gas in the Permian, strips out valuable liquids and ships them to the Gulf Coast for export, and has borrowed to build plants and pipelines rather than distribute cash to owners. Its yield is just 1.70%, and the shares trade at 23.20 times next year's expected earnings versus 27.06 times the past year. The article argues the risk lies in the company having no slack, since its contracts depend on volumes that producers decide to send, so if Permian output stalls, the debt stays high without the expected returns.
Related markets
Latest news
- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.