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4-Traders Homepage  >  Equities  >  Nyse  >  Kinder Morgan Energy Partners LP    KMP

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Kinder Morgan Sees Strong Demand in 2015

12/03/2014 | 04:40pm US/Eastern
   By Josh Beckerman 
 

Kinder Morgan Inc. (KMI) expects continued high demand in 2015, projecting it will generate about $8.2 billion in business segment earnings before depreciation, depletion and amortization.

The company said "we anticipate strong growth in 2015 across our pipeline and storage businesses and currently have a backlog of approximately $18 billion in expansion projects and joint venture investments that have a high certainty of completion."

Oil prices have slumped for months on concerns about a world-wide glut of oil, as supply growth has outpaced demand and global inventories have piled up. Prices fell to multiyear lows last week after the Organization of the Petroleum Exporting Countries decided to maintain its current production quota.

Kinder Morgan has revised its projected West Texas Intermediate crude oil price to $70 per barrel.

A week ago, the company completed a roughly $76 billion transaction that brought Kinder Morgan Inc., Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP into one corporate entity.

Kinder Morgan said in October it expected to pay a dividend of $2 in 2015, and predicted dividend growth about 10% each year from 2015 through 2020.

The company said Wednesday that it expects to invest about $4.4 billion in expansions and small acquisitions next year.

Analysts polled by Thomson Reuters project the company will earn $1.52 a share on revenue of $18.17 billion in 2015.

Write to Josh Beckerman at josh.beckerman@wsj.com

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