Hot Stock to watch: Kinder Morgan Inc (NYSE: KMI)

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Kinder Morgan Inc (NYSE: KMI) stock rose over 3% on 23rd January, 2020 (as of 10:05 am GMT-5; Source: Google finance) post fourth quarter of FY 19 update. The company’s backlog now stands at $3.6 billion, that’s down from last quarter mainly due to us placing a processing plant in service during the fourth quarter and removing the backlog associated with KML projects from the KMI backlog. For the fourth quarter, transport volumes had increased 14% compared to the fourth quarter of 2018. Specifically, EPNG had increased almost 1.3 Bcf a day due to increased Permian related activity and colder California weather. TGP had increased over 1 bcf a day due to expansion projects. CIG had increased 780 million cubic feet a day driven by increased DJ production and higher heating demand on the Front Range in Colorado. KMLP volumes had increased 542 million cubic feet a day due to the Sabine Pass Expansion. GCX went into full service and the company are now routinely operating at full capacity of approximately 2 Bcf a day and the Texas Intrastates were up over 500 million cubic feet a day on continued growth in the Texas Gulf Coast market and the additional supply coming in from CCX.

KMI in the fourth quarter of FY 19 has reported the adjusted earnings per share of 26 cents, which is in line with the analysts’ estimates for the adjusted earnings per share of 26 cents, according to analysts polled by Thomson Reuters. The company had reported the adjusted revenue of $3.35 billion in the fourth quarter of FY 19. There has been decline in the cost of sales in the fourth quarter of $423 million which nearly offset the revenue decline meaning, which reflects that gross margin was about flat from last quarter of last year. Net income available to common stockholders was up 26% compared Q4 of 2018 due in part to the KML Cochin gain in the quarter. Net income available to common stockholders adjusted were up 4% compared to the fourth quarter of 2018. The company has ended the quarter at 4.3 times debt to EBITDA, which has improved from the 4.7 times at the end of the third quarter 2019 and from the 4.5 times at the beginning of 2019. The adjusted net debt ended the fourth quarter at $33 billion, which is down $2.2 billion from the third quarter and $1.1 billion lower than year-end 2018.

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