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Company News

BUZZ-Kinder Morgan Inc: Rises on strong Q1, dividend raise

** Pipeline operator’s shares up 2.3 pct at $16.55 premarket

** KMI posts 21 pct jump in Q1 profit, helped by higher demand for natural gas, lower costs and taxes

** Raises Q1 dividend by 60 pct to $0.20 per share; lifts 2018 budget but says will not need to tap into capital markets for funding

** “Results were solid with the first quarter ahead of expectations, a suggested beat ... and the long awaited dividend increase,” Morgan Stanley analyst Matthew Giacobbe writes

** KMI spin-off Kinder Morgan Canada separately says recent events confirm investment in Trans Mountain pipeline expansion maybe “untenable”

** KML had suspended most of its investment in the Canadian project due to legal and jurisdictional issues

** KMI’s shares have fallen ~10 pct this year while KML has lost ~2.4 pct since it announced the pipeline suspension early this month

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