Richard Kinder continues to prove his critics wrong. Kinder Morgan’s (KMI) latest earnings shows that dividend and distribution growth is alive and well at the traditionally boring pipeline and midstream giant. Last year, concerns raised by investing newspaper Barron’s along with analysts at Hedgeye Risk Management about KMI stocks cash flows and capex spending sent the leading midstream firm into the toilet.
Since then, shares of KMI and sister stocks Kinder Morgan Partners (KMP) and El Paso Partners (EPB) have traded sideways, despite positive earnings and cash flow growth. Well, you can add another quarter of distribution growth on the pile. KMI’s latest earnings showcases why Kinder Morgan is still one of the best midstream firms on the planet.
Source: InvestorPlace
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