Kinder Morgan Raises 2024 Financial Guidance To Include Acquisition; Expectation To Declare Dividends Of $1.15 Per Share For 2024 Is Unchanged
Portfolio Pulse from Benzinga Newsdesk
Kinder Morgan (KMI) has updated its 2024 financial guidance to include the effects of acquiring STX Midstream assets. The company now expects a 15% increase in EPS to $1.22, an 8% increase in DCF per share to $2.26, and an 8% increase in Adjusted EBITDA to $8.16 billion for 2024. Despite these increases, Kinder Morgan's dividend expectation of $1.15 per share for 2024 remains the same, with a projected year-end Net Debt-to-Adjusted EBITDA ratio of 3.9 times.
January 17, 2024 | 9:08 pm
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Kinder Morgan has raised its 2024 financial projections following the acquisition of STX Midstream, expecting higher EPS, DCF per share, and Adjusted EBITDA, while maintaining its dividend forecast.
The positive revision in financial guidance due to the STX Midstream acquisition is likely to be viewed favorably by investors, signaling growth and financial stability. The unchanged dividend may reassure income-focused shareholders. The combined effect is likely to be positive for KMI's stock in the short term.
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