Tag Archives: Kinder Morgan

Business, Finance, Occupation & Industry

What's the Most Important Asset in the Midstream?

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By Aimee Duffy and Tyler Crowe, The Motley Fool

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The Kinder Morgan family of investments is the third-largest energy company in North America by combined enterprise value. When you’re that big, it’s hard to pinpoint one single thing that is more important to your success than anything else. In this video, Motley Fool contributor Aimee Duffy attempts to do just that, explaining why Kinder Morgan is such a great investment along the way.

It’s easy to forget the necessity of midstream operators that seamlessly transport oil and gas throughout the United States. Kinder Morgan is one of these operators, and one that investors should commit to memory due to its sheer size – it’s the third-largest energy company in the U.S. – not to mention its enormous potential for profits. In The Motley Fool‘s new premium research report on Kinder Morgan, our top energy analyst breaks down the company’s growing opportunity, as well as the risks to watch out for, in order to uncover whether it’s a buy or a sell. To determine whether this dividend giant is right for your portfolio, simply click here now to claim your copy of this invaluable investor’s resource.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Inside Kinder Morgan: Products Pipelines

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By Aimee Duffy, The Motley Fool

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Based on combined enterprise value, Kinder Morgan is the third-largest energy company in North America. We tend to associate the giant with its 75,000 miles of pipelines, but in reality its operations are incredibly diverse. Over the next few days, I’ll take a closer look at each of the midstream company’s five distinct business units. I’ve already tackled the terminals segment and the natural gas pipelines segment, so today we’ll break down the partnership’s products pipelines business.

Background on the assets
Kinder Morgan, with its master limited partnership Kinder Morgan Energy Partners , operates an 8,000-mile network of refined products pipelines and 50 liquids terminals. It transports 2 million barrels a day, making it the largest independent transporter of refined petroleum products in the U.S.

Products include the usual suspects — gasoline, diesel, and jet fuel — but also natural gas liquids and biofuels. That diversity plays a crucial role come earnings time, and we’ll get to that in a minute. Unlike the partnership’s natural gas pipeline system, which is largely concentrated in Texas, its refined products network is smaller, with assets in California, the northeast, and Canada.

Across the country, demand for refined products such as gasoline has dropped over the past few years. Kinder Morgan wasn’t immune from the effects of that. Segment volumes dropped 1.5% in 2012, led by a 5% drop in diesel volumes. And yet, fourth-quarter earnings were up year over year because NGL volumes and biofuels volumes both increased by about 22%.

Kinder Morgan was the first company to transport ethanol via pipeline for commercial use, way back in 2008.  It started moving biodiesel in 2009 and never looked back.  The segment has been on a tear ever since, and earned $176 million in Q4, a 9% jump over 2011’s earnings.

Kinder Morgan anticipates growth in the refined products segment in 2013, despite expectations for relatively flat demand for petroleum products:

Source: Company presentation.

The target for the year is to achieve $791 million in earnings, translating to $741 million in distributable cash flow, which would be close to a $90 million increase over last year’s results. At the same time, Kinder Morgan hopes for a minimal increase in sustaining capital expenditures. The partnership spent $47.8 million in 2012 and is looking to keep capex under $50.1 million in 2013.

Let’s take a look at how Kinder Morgan plans to achieve that growth .

A look ahead
A big part of Kinder Morgan‘s growth will come from its biofuels segment. The partnership expects to increase biofuels volumes handled from 34.4 million in 2012 to 41.8 million in 2013. A few recent developments will help that dream come true, beginning with increased biodiesel blending at four locations between California and Arizona. As far as transportation goes, Kinder Morgan has acquired a transload terminal in South Carolina, and has put an ethanol unit train receipt facility on line in Tampa, Fla. The regulatory environment remains strong for biofuels, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The Best Dividends in Energy

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By Travis Hoium, The Motley Fool

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Stable dividends can be an investor’s best friend and the energy sector is one of the most stable for supplying those dividends. Energy usage on all levels varies very little from year to year and regulated markets can provide very stable businesses for investors. With that in mind, I’ve assembled a list of five companies that supply great dividends that I think will be stable in the long term.

Seadrill 
Oil drilling can be a very volatile business. A better than expected well can send your stock through the roof and a dry well can send your stock crashing down. But supplying equipment to a growing market can be extremely stable and lucrative.

Right now, one of the best equipment businesses in offshore drilling, and even more specifically ultra-deepwater offshore drilling, is Seadrill. The company owns a large fleet of deepwater rigs and has 22 more rigs under construction, seven of which are ultra-deepwater drillships. This will be a stable business because of the overall trends in the oil market.

Oil is harder and harder to find both onshore and offshore, so drillers are going to greater lengths to find it. That’s led companies to oil fields in water up to two miles deep off the coasts of the U.S., Brazil, Africa, and other parts of the world. As more drilling takes place, more oil is found, creating a reinforcing loop for ultra-deepwater rig owners.

For shareholders, Seadrill trades at just 10 times this year’s earnings estimates, and with new rigs coming online over the next few years, profits should continue to grow. The stock‘s 9% dividend yield is among the highest on the market, but I think it’s safe in this growing energy market.

Kinder Morgan
Another play on the energy market that’s safer than betting on explorers is with the companies transporting oil and gas from place to place. Kinder Morgan owns oil and gas pipelines, processing stations, terminals, and other energy assets. The company makes money by moving oil and gas from processing sites to refiners, in many cases in regulated markets, providing stable returns. As shale production in the U.S. increases there will be expanded opportunities for Kinder Morgan to grow and diversify its assets.  

The stock pays a 4% dividend yield; with the stability of the oil and gas markets investors can count on payouts for a long time to come. Another way to play this company is with Kinder Morgan Energy Partners , which pays a 6% dividend yield. The difference is, Kinder Morgan Partners is an MLP so it has different tax consequences than its parent Kinder Morgan, something you can learn more about here.

Total
In the oil production space, Total is one of the biggest players and it is well-positioned for a changing energy landscape in the future. The company is one of the largest players in liquefied natural gas, supplying an increasing amount of the …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Why Kinder Morgan Is Poised to Outperform

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By Brian Pacampara, Pacampara, The Motley Fool

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Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool’s free investing community, energy storage and transportation company Kinder Morgan Energy Partners has earned a coveted five-star ranking.

With that in mind, let’s take a closer look at Kinder Morgan and see what CAPS investors are saying about the stock right now.

Kinder Morgan facts

 

  

Headquarters (founded)

Houston, Texas (1992)

Market Cap

$31.9 billion

Industry

Oil and gas storage and transportation

Trailing-12-Month Revenue

$8.6 billion

Management

Chairman/CEO Richard Kinder

CFO Kimberly Dang

Return on Equity (average, past 3 years)

17%

Cash/Debt

$527.0 million/$17.4 billion

Dividend Yield

6%

Competitors

Enterprise Products Partners, L.P.

Koch Industries

TransMontaigne

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 96% of the 1,538 members who have rated Kinder Morgan believe the stock will outperform the S&P 500 going forward.

Earlier this month, one of those Fools, brenoboyle, succinctly summed up the Kinder Morgan bull case for our community:

Natural gas is going to be one of the largest long term success stories in the history of U.S. energy production. While companies exploring and drilling NG have lagged due to cost overruns a company like Kinder Morgan makes money regardless through a ‘toll-road’ model. They maintain pricing power through the ownership of assets that are nearly impossible to replicate. As the electric grid switches over from coal to NG demand is sure to rise making this ‘sure-thing’ investment a must own in any dividend growth portfolio.

If you want market-thumping returns, you need to put together the best portfolio you can. Of course, despite a strong five-star rating, Kinder Morgan may not be your top choice.

If that’s the case, we’ve compiled a special free report for investors called “The 3 Dow Stocks Dividend Investors Need,” which uncovers a few other juicy income opportunities. The report is 100% free, but it won’t be around forever, so click here to access it now.

Want to see how well (or not so well) the stocks in this series are performing? Follow the TrackPoisedTo CAPS account.

The article Why Kinder Morgan Is Poised to Outperform originally appeared on Fool.com.

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends Enterprise Products Partners L.P. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Everything Under the Sun

3 Pipeline Deals to Watch

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By Aimee Duffy, The Motley Fool

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Energy Fools who haven’t been able to tear themselves away from the “will we, won’t we?” Keystone XL drama have missed a fair bit of pipeline news already this week. Though the micro story is limited to the companies involved, the details can point to a bigger picture that can affect all energy investors. Let’s look at some of this week’s action.

Natural gas exports
Kinder Morgan petitioned the Federal Energy Regulatory Commission for authorization to increase its shipments of natural gas from Texas to Mexico. The company’s Mier-Monterrey pipeline currently ships 425 million cubic feet of gas per day to the Mexican border, where it connects with a Pemex-owned system. Kinder Morgan wants to boost that amount to 700 mmcf per day. The company hopes to have a decision in hand by June 1.

Mexico will be happy to have the gas. Despite the existence of extensive natural gas reserves — the Eagle Ford Shale doesn’t stop at the border, after all — the country doesn’t have the means to produce the commodity for less than it would cost to buy it from the United States. Until Pemex opens its doors to foreign exploration and production investment, the country will have to be content buying gas from across the border.

NGLs on the go
Boardwalk Pipeline Partners is tag-teaming with Williams to build a natural gas liquids pipeline system from the Utica and Marcellus shales down to the Gulf Coast. The Bluegrass Pipeline would connect Pennsylvania, West Virginia, and Ohio to the petrochemical and refining hubs in Louisiana and Texas. The system would be part new construction and part conversion of an existing natural gas line, with an initial capacity of 200,000 barrels per day.

The fact that part of the planned route already exists enables the joint venture partners to target a completion date sometime in the second half of 2015. Alan Armstrong, the CEO of Williams, anticipates that liquids production in the two shale plays will overwhelm existing infrastructure by 2016.

1 more MLP?
Western Refining is the latest company to announce that it may pursue a midstream spinoff of its oil and logistics assets. The company is currently evaluating its prospects, and if management decides to pursue this option, Western would file a registration statement with the SEC sometime this year.

The market is ripe for MLP spinoffs, and they’re proving particularly popular with refiners. Marathon Petroleum has succeeded in its spinoff of MPLX, and Phillips 66 isn’t far behind. Western has said its extensive retail network won’t be included in the potential MLP. Instead, potential assets for spinoff include four refined products terminals, four asphalt terminals, and crude oil and products pipelines.

Foolish takeaway
These deals are important for the companies involved, but the big picture matters, too. This week alone we’re reminded that Mexico needs our gas, and if any U.S. E&P ever gets in there it will make …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Inside Kinder Morgan: Natural Gas Pipelines

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By Aimee Duffy, The Motley Fool

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Based on combined enterprise value, Kinder Morgan is the third largest energy company in North America. We tend to associate the giant with its 75,000 miles of pipelines, but in reality, its operations are incredibly diverse. Over the next few days, I’ll take a closer look at each of the midstream company’s five distinct business units. I’ve already tackled the terminals segment, and today we’ll break down the partnership’s natural gas pipeline business.

Background on the assets
Kinder Morgan, together with its master limited partnerships Kinder Morgan Energy Partners and El Paso Pipeline Partners , operates an impressive 62,000 miles of natural gas pipeline, making it the largest natural gas transporter in the United States. The pipelines reach natural gas plays and serve major consuming markets from coast to coast but are concentrated heavily along the southern border of the U.S., from Arizona to Florida. Texas is the epicenter of the partnership’s footprint, yet it’s the company’s East region that’s expected to generate the largest percentage of earnings for the segment in 2013.

Source: Kinder Morgan.

The East segment includes roughly all of Kinder Morgan‘s pipes east of the Mississippi River, from Florida to New Hampshire, while the midstream segment designates the Texas intrastate system. West denotes everything west and north of El Paso, while Central includes everything west of the Mississippi and north of the Texas/Oklahoma border. You can check out the whole map here.

Overall, the segment grew 64% year over year in the fourth quarter of 2012 and $474 million in earnings. Much of that growth can be attributed to the booming Eagle Ford Shale play, and the increase of natural gas used for power generation. Kinder Morgan hopes to continue to drive success here and is in the midst of investing $2.7 billion in its natural gas pipeline assets.

A look ahead
A big part of that investment capital is headed straight for two shale plays: the Marcellus and the Eagle Ford. We’ll get to Texas in a minute, but first let’s tackle the Marcellus, where Kinder Morgan has two of similar looping projects on the Tennessee Gas Pipeline system coming online by the end of November.

The first project is the Marcellus Pooling Point project, an $86 million pipeline expansion that will loop a line in northwest Pennsylvania with 7.9 miles of 30-inch pipe. (Looping means that new pipe will be installed adjacent to the existing line.) It will also feature upgrades to four pumping stations. The new capacity comes in around 240,000 dekatherms per day, which is roughly equal to 2.3 million cubic feet of gas, and it will feed utilities and other connecting pipelines.

The second looping project is the Northeast Upgrade, and it is much more expensive at $450 million. This project will add about 40 miles of 30-inch looped line on the Tennessee Gas Pipeline system and will have a capacity of about 640,000 dekatherms per day, which …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Northern Tier Energy: Yet Another Risky Oil and Gas MLP

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By Rich Duprey, The Motley Fool

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With more than 5,400 stocks to choose from, the universe of investment possibilities is enormous, so looking for stocks based on what you already know and own might be a path to pursue.

Motley Fool CAPS, the 180,000 member-driven investor community that translates informed opinion into stock ratings of one to five stars, helps you focus your attention by providing you with a personalized Stock of the Day. Using its supercomputer, it looks at stocks currently in your active pick list and then scans stocks picked by highly rated players with lists similar to yours, as well as industries in which you currently have active picks, and targets areas in which you already have an interest.

By pairing up the opinions of some of the top investors in the CAPS community, CAPS provides you with a handful of companies on which to begin your own due diligence and research.

Buy what you know
No doubt based on my having weighed in on companies such as HollyFrontier, McMoRan Exploration, and Cheniere Energy in the broad oil, gas and consumables sector that I rated to outperform the market averages, the CAPS supercomputer thought I also might be interested in Northern Tier Energy , an independent downstream energy master limited partnership with refining, retail, and pipeline operations serving the PADD II region of the U.S., districts created during World War II to ration fuel but still used today for data collection purposes.

It was one of five Stocks of the Day it offered up for my consideration this week, and though it offers a tempting dividend that currently yields 16%, just remember that as smart as the CAPS algorithm may be, it’s still just an algorithm. So be sure to look before you leap on any of its suggestions.

Northern Tier Energy snapshot

Industry

Oil, Gas, and Consumable Fuels

Sector

Energy

Market Cap

$2.9 billion

Revenues (TTM)

$4.5 billion

1-Year Stock Return

N/A

Return on Investment

N/A

Estimated 5-Year EPS Growth

25%

Dividend & Yield

$5.08/16.5%

Recent Price

$30.76

CAPS Rating

****

Source: FinViz.com. N/A = not available. Northern Tier Energy had its IPO on 7/26/12.

Pipeline to profits
Because of their high divided yields, master limited partnerships continue to be popular with investors looking for an easy way to generate income, particularly during periods like now, when the Federal Reserve is implementing monetary policy hat keeps interest rates artificially low. It almost seems too good to be true: The MLPs make a ton of cash every quarter, and they distribute it all to their unitholders. Wash. Rinse. Repeat.

For certain MLPs it is a very repeatable business model. Their origins lie in fixed assets like oil and natural gas pipelines and storage facilities, where a Kinder Morgan or Plains All-American essentially collect a toll for every barrel of oil equivalent transported through their pipeline system. These …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Inside Kinder Morgan: Terminals

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By Aimee Duffy, The Motley Fool

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Based on combined enterprise value, Kinder Morgan is the third largest energy company in North America. We tend to associate the giant with its 75,000 miles of pipelines, but in reality, its operations are incredibly diverse. Over the course of the next week, I’ll take a closer look at each of the midstream company’s five distinct business units, beginning today with its terminals segment.

Background on the assets
Kinder Morgan operates the largest independent terminal network in the United States. Everything from liquids to coal to steel has its place among the company’s 180-plus terminals located all over the U.S. and in parts of Canada. Systemwide, the network has about 100 million barrels of liquids capacity and processes 100 million tons of materials every year. Its most important terminal asset locations are in New York Harbor and the Houston Ship Channel.

Taking a closer look at the liquids and bulk business within the Terminals segment, we see that bulk tonnage actually decreased in 2012, though it is expected to pick up this year. Liquids throughput increased significantly, and that trend is expected to continue.

Ores and metals, coal, and petroleum coke represent 67% of Kinder Morgan‘s bulk terminal business, while refined petroleum, chemicals, and fuel grade ethanol make up 73% of the liquids business. Even within this segment, diversification is important .

Last quarter, Kinder Morgan‘s terminals segment generated $198 million in earnings. It marked a 7% increase year over year, and though that was the smallest growth increase across all of Kinder Morgan’s business units, the partnership is looking to remedy slow growth in the segment by injecting capital into a few of its existing projects in 2013.

We’ll dive into specific plans in a minute, but for now, know that Kinder Morgan expects its Terminals segment to yield $1.46 billion in net revenue in 2013. That would be about a $118 million jump over 2012’s number and would more than double the year-over-year increases of the past. The segment’s revenue has increased by approximately $50 million annually over the past three years.

One deal that is no more
Kinder Morgan officially suspended its effort to enter into a public-private long-term lease operating deal with the Port of Wilmington. Investors were intrigued by the deal; citizens of Delaware and local union officials, less so. Despite the port’s desperate need to be revitalized, increasing opposition to the plan forced Kinder Morgan to punt. Though the company has not completely withdrawn its offer, the ball is in the court of Delaware’s state officials, and the outlook is grim.

A look ahead
Although the deal to run the Port of Wilmington isn’t working out, I like that Kinder Morgan is open to pursuing that sort of opportunity. In the meantime, there are plenty of deals going through.

We’ll start with Kinder Morgan‘s recently announced plan to partner with Watco in a long-term agreement with Mercuria Energy Trading to build a 210,000-barrel-per day rail project …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Kinder Morgan Companies File 2012 Annual Reports

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By Business Wirevia The Motley Fool

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Kinder Morgan Companies File 2012 Annual Reports

HOUSTON–(BUSINESS WIRE)– Kinder Morgan, Inc. (NYS: KMI) , Kinder Morgan Energy Partners, L.P. (NYS: KMP) , Kinder Morgan Management, LLC (NYS: KMR) and El Paso Pipeline Partners, L.P. (NYS: EPB) have filed their annual reports on Form 10-K for the year ended Dec. 31, 2012, with the Securities and Exchange Commission (SEC).

Chairman and CEO Richard D. Kinder’s shareholder letters to KMI, KMP, KMR and EPB and annual reports on Form 10-K are available free of charge on the Kinder Morgan web site at www.kindermorgan.com in the Investors section.

All Kinder Morgan shareholders may also receive a hard copy of their respective annual report on Form 10-K, which includes the audited financial statements, free of charge upon request. Send requests to Kinder Morgan, Inc., Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC or El Paso Pipeline Partners, L.P., at the following address: 1001 Louisiana Street, Suite 1000, Houston, Texas 77002, Attention: Investor Relations.

Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates approximately 75,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. Kinder Morgan, Inc. (NYS: KMI) owns the general partner interests of Kinder Morgan Energy Partners, L.P. (NYS: KMP) and El Paso Pipeline Partners, L.P. (NYS: EPB) , along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYS: KMR) . For more information please visit www.kindermorgan.com.

This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.

…read more
Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Kinder Morgan Energy Partners Increases Ownership Stake to 100 Percent in El Paso Natural Gas Pipeli

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By Business Wirevia The Motley Fool

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Kinder Morgan Energy Partners Increases Ownership Stake to 100 Percent in El Paso Natural Gas Pipeline and Midstream Assets

HOUSTON–(BUSINESS WIRE)– Kinder Morgan Energy Partners, L.P. (NYS: KMP) today announced that it has completed the previously announced acquisition (drop down) of 50 percent of El Paso Natural Gas Company, L.L.C. (EPNG) and 50 percent of former El Paso Midstream assets in Utah and South Texas from Kinder Morgan, Inc. (NYS: KMI) . The transaction has a total value of approximately $1.655 billion, including approximately $560 million of proportional debt at EPNG. The transaction is expected to be immediately accretive to cash available for distribution to KMP unitholders. KMP now owns 100 percent of both EPNG and the midstream assets. The transaction, which closed and is effective March 1, was approved by the independent boards of both KMI and Kinder Morgan Management, L.L.C. (NYS: KMR) .

KMP purchased the assets at about eight times 2013 EBITDA. KMP funded 10 percent of the transaction value, net of debt assumed, with KMP units valued at approximately $110 million that were issued to KMI at closing. The remaining value was funded with cash. KMI intends to use the proceeds from the dropdown to pay down debt that was associated with the May 2012 purchase of El Paso Corporation.

EPNG is a 10,200-mile pipeline system with a design capacity of about 5.6 billion cubic feet per day (Bcf/d) of gas. It transports natural gas from the San Juan, Permian and Anadarko basins to California, other western states, Texas and northern Mexico. EPNG has up to 44 Bcf of working natural gas storage capacity.

The midstream assets include Altamont gathering, processing and treating assets in the Uinta Basin in Utah and the Camino Real gathering system in the Eagle Ford shale in South Texas. The Altamont System has over 1,200 miles of pipeline infrastructure, over 450 well connections with producers, and it operates a processing plant with a design capacity of over 60 million cubic feet per day (MMcf/d) of gas being expanded to 80 MMcf/d and a 5,600 barrel per day (bpd) natural gas liquids fractionator. The Camino Real Gathering System has 150 MMcf/d of gas gathering capacity and 110,000 bpd of oil gathering capacity.

In connection with the transaction, BofA Merrill Lynch provided certain financial advisory services to the board of directors of Kinder Morgan, Inc. Greenhill & Co., LLC provided certain financial advisory services to the conflicts and audit committee of the board of directors …read more
Source: FULL ARTICLE at DailyFinance