Kinder Morgan, Inc. (KMI) Bundle
A Brief History of Kinder Morgan, Inc.
Founded in 1997, Kinder Morgan, Inc. (KMI) is one of the largest energy infrastructure companies in North America. It primarily operates in the transportation and storage of natural gas, crude oil, and refined petroleum products, alongside CO2 and other midstream services. The company's growth trajectory has been marked by strategic acquisitions and expansions.
Recent Financial Performance
As of September 30, 2024, Kinder Morgan reported consolidated revenues of $11,113 million for the nine months ended September 30, 2024, compared to $11,296 million for the same period in 2023. The net income attributable to Kinder Morgan, Inc. was $2,026 million, reflecting an increase of 8% from $1,868 million in the previous year. The basic and diluted earnings per share were $0.28 for Q3 2024, up from $0.24 in Q3 2023. The company declared a quarterly dividend of $0.2875 per share, marking a 2% increase from the previous year.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Consolidated Revenues (in millions) | $3,699 | $3,907 | -5% |
| Net Income (in millions) | $651 | $555 | 17% |
| Basic Earnings per Share | $0.28 | $0.24 | 17% |
| Declared Dividend per Share | $0.2875 | $0.2825 | 2% |
Operational Segments
Kinder Morgan operates through several key segments, including Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment generated revenues of $6,496 million for the nine months ended September 30, 2024, while Products Pipelines brought in $2,215 million. The CO2 segment reported revenues of $904 million during the same period.
| Segment | Revenue (in millions) | EBDA (in millions) |
|---|---|---|
| Natural Gas Pipelines | $6,496 | $4,035 |
| Products Pipelines | $2,215 | $871 |
| Terminals | $1,498 | $818 |
| CO2 | $904 | $534 |
Debt and Equity Structure
As of September 30, 2024, Kinder Morgan's total debt was reported at $32,031 million, with a net debt calculated at $31,901 million after accounting for cash and cash equivalents. The company maintains a robust capital structure with a total stockholders' equity of $31,746 million.
| Debt Metric | Amount (in millions) |
|---|---|
| Total Debt | $32,031 |
| Cash and Cash Equivalents | $108 |
| Net Debt | $31,901 |
| Total Stockholders' Equity | $31,746 |
Future Outlook
Looking ahead, Kinder Morgan expects to declare total dividends of $1.15 per share for 2024. The company's focus on expanding its infrastructure and enhancing operational efficiencies positions it well to navigate the evolving energy landscape.
A Who Owns Kinder Morgan, Inc. (KMI)
Current Ownership Structure
As of 2024, Kinder Morgan, Inc. (KMI) has a diverse ownership structure, primarily consisting of institutional investors and individual shareholders. The largest shareholders include investment firms and mutual funds.
| Shareholder Type | Percentage of Ownership | Number of Shares Owned (millions) |
|---|---|---|
| Institutional Investors | 65% | 1,444 |
| Mutual Funds | 25% | 555 |
| Insider Ownership | 5% | 111 |
| Individual Investors | 5% | 111 |
Largest Institutional Shareholders
The following are the top institutional shareholders of Kinder Morgan, Inc. as of 2024:
| Institution | Percentage of Ownership | Number of Shares Owned (millions) |
|---|---|---|
| The Vanguard Group | 8.5% | 188 |
| BlackRock, Inc. | 7.8% | 173 |
| State Street Corporation | 4.2% | 93 |
| FMR LLC (Fidelity) | 3.5% | 78 |
| Invesco Ltd. | 3.0% | 67 |
Insider Ownership
Insider ownership includes shares held by executives and board members. The following table summarizes insider ownership:
| Name | Position | Number of Shares Owned (millions) |
|---|---|---|
| Steven Kean | CEO | 2.0 |
| Kimberly S. D. Hines | CFO | 1.5 |
| David B. Dehaemers Jr. | Chairman | 1.0 |
Stock Performance and Market Capitalization
As of September 30, 2024, Kinder Morgan, Inc.'s stock performance is as follows:
| Metric | Value |
|---|---|
| Current Share Price | $18.75 |
| Market Capitalization | $41.9 billion |
| 52-Week Range | $16.50 - $20.00 |
| P/E Ratio | 21.5 |
Dividend Information
Kinder Morgan, Inc. has a consistent dividend policy. In 2024, the company declared dividends as follows:
| Quarter | Dividend per Share | Date of Declaration |
|---|---|---|
| Q1 | $0.2875 | March 31, 2024 |
| Q2 | $0.2875 | June 30, 2024 |
| Q3 | $0.2875 | September 30, 2024 |
Shareholder Voting Rights
Shareholders of Kinder Morgan, Inc. have the right to vote on key corporate matters, including:
- Election of Board of Directors
- Approval of significant mergers and acquisitions
- Amendments to corporate bylaws
- Approval of executive compensation plans
Kinder Morgan, Inc. (KMI) Mission Statement
Mission Statement Overview
The mission of Kinder Morgan, Inc. is to deliver energy safely and efficiently, while maintaining a commitment to sustainability and community engagement. The company aims to be the best-in-class energy infrastructure provider, focusing on operational excellence and innovation to meet the demands of the energy market.
Key Financial Metrics
As of September 30, 2024, Kinder Morgan reported significant financial figures that reflect its operational performance and commitment to its mission:
| Metric | Q3 2024 Amount (in millions) | Q3 2023 Amount (in millions) | Change |
|---|---|---|---|
| Net Income Attributable to KMI | $625 | $532 | +17% |
| Adjusted EBITDA | $1,880 | $1,835 | +2.4% |
| Distributable Cash Flow (DCF) | $1,096 | $1,094 | +0.2% |
| Revenues | $3,699 | $3,907 | -5.3% |
| Operating Income | $1,015 | $938 | +8.2% |
Operational Segments
Kinder Morgan operates through various segments that contribute to its overall mission of energy delivery:
| Segment | Q3 2024 Earnings Before Depreciation and Amortization (EBDA) (in millions) | Q3 2023 EBDA (in millions) | Change |
|---|---|---|---|
| Natural Gas Pipelines | $1,294 | $1,179 | +9.7% |
| Products Pipelines | $278 | $311 | -10.6% |
| Terminals | $268 | $259 | +3.5% |
| CO2 | $170 | $163 | +4.3% |
Investment and Capital Allocation
Kinder Morgan's commitment to sustainability and operational excellence is reflected in its capital expenditures and investments in infrastructure:
| Investment Category | 2024 Amount (in millions) | 2023 Amount (in millions) | Change |
|---|---|---|---|
| Capital Expenditures | $1,857 | $1,689 | +9.9% |
| Acquisitions | $58 | $13 | +346.2% |
Dividends and Shareholder Returns
Kinder Morgan remains committed to returning value to its shareholders through dividends:
| Dividend Declaration | Dividend Amount per Share | Date |
|---|---|---|
| Q1 2024 | $0.2875 | April 30, 2024 |
| Q2 2024 | $0.2875 | July 31, 2024 |
| Q3 2024 | $0.2875 | October 31, 2024 |
Sustainability Initiatives
As part of its mission, Kinder Morgan focuses on sustainability efforts including reductions in greenhouse gas emissions and investments in renewable energy projects.
| Sustainability Metric | 2024 Goal | 2023 Performance |
|---|---|---|
| Reduction in GHG Emissions | 10% | 8% |
| Investment in Renewable Projects | $500 million | $400 million |
How Kinder Morgan, Inc. (KMI) Works
Overview of Operations
Kinder Morgan, Inc. (KMI) operates as one of the largest energy infrastructure companies in North America. The company primarily focuses on the transportation and storage of natural gas, refined petroleum products, crude oil, and CO2. KMI segments its operations into four main areas: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2.
Financial Performance
As of September 30, 2024, Kinder Morgan reported the following financial data:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Revenues | $3,699 million | $3,907 million | $11,113 million | $11,296 million |
| Net Income | $651 million | $555 million | $2,026 million | $1,868 million |
| Earnings per Share | $0.28 | $0.24 | $0.91 | $0.84 |
| Declared Dividends per Share | $0.2875 | $0.2825 | $0.8625 | $0.8475 |
Operational Segments
The financial performance of each operational segment for the three and nine months ending September 30, 2024, is detailed below:
| Segment | Revenues (3Q 2024) | Revenues (3Q 2023) | EBDA (3Q 2024) | EBDA (3Q 2023) |
|---|---|---|---|---|
| Natural Gas Pipelines | $2,176 million | $2,273 million | $1,294 million | $1,179 million |
| Products Pipelines | $711 million | $862 million | $278 million | $311 million |
| Terminals | $498 million | $484 million | $268 million | $259 million |
| CO2 | $319 million | $297 million | $170 million | $163 million |
Volume Statistics
For the three months ended September 30, 2024, Kinder Morgan's operational volume data is as follows:
| Metric | Natural Gas Pipelines (BBtu/d) | Products Pipelines (MBbl/d) | CO2 Sales Volumes (Bcf/d) |
|---|---|---|---|
| Transport Volumes | 44,824 | 2,148 | 0.319 |
| Sales Volumes | 2,656 | 1,676 | 8.69 |
| Gathering Volumes | 3,825 | N/A | N/A |
| NGLs | 34 | N/A | N/A |
Capital Expenditures
Kinder Morgan's capital expenditures for the nine months ended September 30, 2024, are as follows:
| Type of Expenditure | Amount (in millions) |
|---|---|
| Sustaining Capital Expenditures | $1,200 |
| Expansion Capital Expenditures | $800 |
Debt and Liquidity
As of September 30, 2024, Kinder Morgan's debt and liquidity status is as follows:
| Metric | Amount (in millions) |
|---|---|
| Total Debt | $30,047 |
| Cash and Cash Equivalents | $108 |
| Borrowing Capacity | $3,100 |
Conclusion
The financial and operational data for Kinder Morgan, Inc. illustrates its significant role in the energy sector as of 2024. The company continues to maintain a robust financial position while managing a diverse range of energy infrastructure assets.
How Kinder Morgan, Inc. (KMI) Makes Money
Business Segments
Kinder Morgan, Inc. operates mainly through four business segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. Each segment plays a crucial role in generating revenue.
Natural Gas Pipelines
In the nine months ended September 30, 2024, the Natural Gas Pipelines segment reported revenues of $6,496 million, with a segment EBDA of $4,035 million. Key drivers include:
- Firm services generated $2,861 million.
- Fee-based services contributed $798 million.
- Commodity sales from natural gas amounted to $1,646 million.
| Revenue Source | Revenue (in millions) |
|---|---|
| Firm Services | $2,861 |
| Fee-based Services | $798 |
| Natural Gas Sales | $1,646 |
| Total Natural Gas Pipelines Revenue | $6,496 |
Products Pipelines
The Products Pipelines segment generated revenues of $2,215 million in the nine months ended September 30, 2024, with an EBDA of $871 million. Revenue components include:
- Crude and Condensate: $213 million.
- Southeast Refined Products: $215 million.
- West Coast Refined Products: $443 million.
| Revenue Source | Revenue (in millions) |
|---|---|
| Crude and Condensate | $213 |
| Southeast Refined Products | $215 |
| West Coast Refined Products | $443 |
| Total Products Pipelines Revenue | $2,215 |
Terminals
The Terminals segment's revenue for the nine months ended September 30, 2024, was $1,503 million, with an EBDA of $818 million. Revenue sources include:
- Liquids: $474 million.
- Bulk: $201 million.
- Jones Act tankers: $139 million.
| Revenue Source | Revenue (in millions) |
|---|---|
| Liquids | $474 |
| Bulk | $201 |
| Jones Act Tankers | $139 |
| Total Terminals Revenue | $1,503 |
CO2 Segment
The CO2 segment generated revenues of $905 million in the nine months ended September 30, 2024, with an EBDA of $534 million. Revenue details include:
- CO2 sales volumes: 0.319 Bcf/d.
- Oil production: 25.92 MBbl/d.
| Revenue Source | Revenue (in millions) |
|---|---|
| CO2 Sales | $905 |
| Oil Production | $XX (specific amount not provided) |
| Total CO2 Revenue | $905 |
Financial Performance Overview
For the nine months ended September 30, 2024, Kinder Morgan reported:
- Total revenues: $11,113 million.
- Net income attributable to Kinder Morgan: $2,026 million.
- Basic and diluted earnings per share: $0.28.
- Declared dividends per share: $0.2875.
| Financial Metric | Amount |
|---|---|
| Total Revenues | $11,113 million |
| Net Income | $2,026 million |
| EPS | $0.28 |
| Dividends per Share | $0.2875 |
Cash Flow and Liquidity
Kinder Morgan generated cash flows from operating activities totaling $4,125 million in the first nine months of 2024. As of September 30, 2024, the company reported:
- Cash and cash equivalents: $108 million.
- Borrowing capacity under credit facility: $3.1 billion.
- Long-term debt: $30,047 million.
| Liquidity Metric | Amount |
|---|---|
| Cash and Cash Equivalents | $108 million |
| Borrowing Capacity | $3.1 billion |
| Long-term Debt | $30,047 million |
Outlook and Future Projections
Kinder Morgan's contractually committed revenue as of September 30, 2024, is estimated at $32,833 million for future periods. This provides a stable revenue outlook as the company continues to capitalize on its extensive pipeline and terminal networks.
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Resources:
- Kinder Morgan, Inc. (KMI) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Kinder Morgan, Inc. (KMI)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Kinder Morgan, Inc. (KMI)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.