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Kinder Morgan ( NYSE:KMI ) closed 2020 on a down note as its earnings and cash flow declined. Several factors weighed on its results, including asset sales, lower volumes, and weaker commodity prices. Unfortunately, the company expects that downward trend to continue in 2021 even though it recently completed a needle-moving project, and energy market conditions are on the upswing. Here’s a closer look at its fourth-quarter results as well as what the energy infrastructure giant sees ahead in 2021. Drilling down into Kinder Morgan’s first-quarter results Distributable cash flow (DCF) $1.250 billion $1.354 billion (7.7%) DCF per share $0.55 $0.59 (6.8%) Data source: Kinder Morgan. * Adjusted earnings before interest, taxes, depreciation, and amortization. Kinder Morgan’s earnings and cash flow declined in the fourth quarter due to weaker results across all four of its operating segments: Data source: Kinder Morgan. Earnings from the company’s natural gas pipeline operations fell about 5% year over year in the fourth quarter, pushing its full-year results down by 3%. Weighing on this business were lower contributions from several natural gas gathering and processing assets due to lower natural gas production tied to weaker oil and gas prices. The sale of the U.S. […]
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