Kinder Morgan (KMI) Dividend Cut Creates Opportunity to Buy High-Quality Names - Jefferies
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Fitch Affirms Ratings on Kinder Morgan (KMI) Amid Dividend Cut
December 9, 2015 10:39 AM ESTFitch Ratings has affirmed its 'BBB-' Issuer Default Rating (IDR) and senior unsecured ratings on Kinder Morgan, Inc. (NYSE: KMI) and its subsidiaries, following KMI's announcement of its change in dividend policy. KMI will cut its dividend to focus on retaining cash to help stabilize its balance sheet and fund what remains a robust capital spending backlog. Additionally, Fitch has affirmed its 'F3' short-term IDR and commercial paper (CP) rating on KMI. A full list of rating actions is available at the end of this release.
The Rating Outlook is... More
Kinder Morgan's (KMI) Price Target Trimmed at Deutsche Bank, Buy Rating Maintained
December 9, 2015 9:52 AM ESTDeutsche Bank maintained a Buy rating on Kinder Morgan (NYSE: KMI) and lowered its price target to $19.00 (from $28.00). The change follows news Kinder Morgan plans to cut its dividend by 75%.
Commenting on developments, analyst Kristina Kazarian said, "This cut gives KMI coverage of 4.6x, allowing it to divert $3.9b/yr of cash flow from... More
RBC Capital Downgrades Kinder Morgan (KMI) to Sector Perform
December 9, 2015 7:52 AM ESTRBC Capital downgraded Kinder Morgan (NYSE: KMI) from Outperform to Sector Perform with a price target of $19.00 (from $29.00).
For an analyst ratings summary and ratings history on Kinder Morgan click here. For more ratings news on Kinder Morgan click here.
Shares of Kinder Morgan closed at $15.72 yesterday.
... MoreKinder Morgan (KMI) PT Lowered to $18 at Credit Suisse Following Dividend Cut
December 9, 2015 6:51 AM ESTCredit Suisse analyst J. Edwards reiterated a Neutral rating and cut its price target on Kinder Morgan (NYSE: KMI) to $18.00 (from $25.00) after the company lowered its dividend 75%.
Edwards commented, "We expect to see more selling in KMI shares in the wake of the... More
Kinder Morgan (KMI) Expects to Pay $0.50 Annual Dividend in 2016, Down From Over $2.00
December 8, 2015 4:31 PM ESTKinder Morgan, Inc. (NYSE: KMI) announced that its Board of Directors has approved a plan pursuant to which it expects to pay quarterly dividends of $.125 per share to its common stockholders ($.50 annually), down from its current quarterly level of $.51, beginning with the fourth quarter 2015 dividend payable in February 2016. This dividend enables the company to use a significant portion of its large cash flow to fund the equity portion of its expansion capital requirements, eliminate any need to access the equity market for the foreseeable future and maintain a solid investment grade credit rating. KMI anticipates... More
